Which of the Following Is True About Decisions Taken Through

question 67

Multiple Choice

Which of the following is true about decisions taken through consensus?

• A)It occurs when the team members approve of an individual's decision.
• B)It requires little involvement or assistance from the manager.
• C)Its effectiveness can be hampered by poor interpersonal relations.
• D)It is foolproof and successful at all times.
• E)The decision group generally consists of only managers.

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Definitions:

Opportunity Cost

The expense incurred by not choosing the second-best option available when a decision is made or an action is taken.

Pure Capitalism

An economic system characterized by private ownership of the means of production and where investments, distribution, income, production, and prices are determined by the market.

Owns No Resources

The condition of not having access to or control over any assets, capital, or means of production.

Production Possibilities Frontier

A curve that shows the different combinations of various goods that a country can produce given certain resources and technology.