Which of the Following Is a Characteristic of a Transactional

question 179

Multiple Choice

Which of the following is a characteristic of a transactional leader?

• A)intervenes if standards aren't met
• B)gives rewards in exchange for good work
• C)watches for deviations from standards
• D)all of the above

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Definitions:

Supply Decreases

A situation in which the quantity of a product or service offered in the market declines due to various factors like increased production costs or reduced number of suppliers.

Invisible Hand Concept

A term coined by Adam Smith to describe the self-regulating nature of the marketplace, guiding individuals to contribute to economic activities that benefit society.

Economic Welfare

The overall well-being and standard of living of individuals within an economy, often evaluated through measures like wealth, health, and happiness.

Market Setting

The environmental and regulatory conditions in which buying and selling occur.