The Two Types of Congruence Between an Individual and an Organization

question 74

Multiple Choice

The two types of congruence between an individual and an organization are the congruence between:

• A) a leadership style and the demands of a job, and the fit between an individual's values and an organization's values.
• B) an individual's abilities and the demands of a job, and the fit between an individual's skills and a team's skills.
• C) a leadership style and the demands of a job, and the fit between an individual's skills and a team's skills.
• D) an individual's abilities and the demands of a job, and the fit between an individual's values and an organization's values.

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Definitions:

Long Run

A period in which all factors of production and costs are variable, and companies can adjust all inputs to the production process.

Market Price

The actual selling price of a good or service in the marketplace, determined by supply and demand.

Price Takers

Market participants who accept prevailing prices because they have no power to influence the market price due to their small market share.

Perfect Competition

A market structure characterized by a large number of small firms, homogeneous products, free entry and exit, and perfect information, leading to firms being price takers.