Question
According to classical economic theory, which of the
following mechanisms ensures that the economy naturally tends towards full employment?Solution
Classical economists believe that wages and prices are flexible and will adjust to clear markets. If there is unemployment, wages will fall, leading to increased demand for labor and eventually full employment. This is in contrast to Keynesian economics, which emphasizes the role of government intervention to achieve full employment.
Which of the following is the correct role of a leader?
The actual achievements compared with the objectives of the job is -
First step in planning process is to
The lower a manager is in the organisational hierarchy, the more important his/her _______ skills are
When the decision making is completely left to the team members, it denotes _______ style of management.
Which theory sees a leader as a great hero with certain inborn qualities?
Which of the following is correct about the classical approach of management?
i. It is a theory of management that analyzes and synthesizes workf...
What is one advantage of democratic leadership?
Which of the following can be sources of organisational control?
What is meant by the 'Veblen effect'?
