Adam Smith formulated the invisible hand and the free market to explain the moti

Question

Adam Smith formulated the invisible hand and the free market to explain the motivation for individual behaviors. The invisible hand refers to O a the work conditions related to satisfaction of the need for psychological growth. O b the variables within an individual that lead to motivation and behavior. O c the unseen forces of a free market system that shape the most efficient use of people, money, and resources for productive ends. O d.the desire to influence others, the urge to change people or events, and the wish to make a difference in life. QUESTION 33 Managers feel that dealing with diversity is a paramount concern because O a they must communicate with employees who have different values. O b they are given authority only if they have expertise O C they have low uncertainty avoidance. O d they must value respect for tradition QUESTION 34 The key to influencing both satisfaction and performance through rewards is that the O a managers use a non-participative style of management. b rewards are not valued by amployees. O c work should not be challenging d rewards are tied directly to performance

Explanation / Answer

Q1 Ans : c. The invisible hand refers to the unobservsble market forces that help the demand and supply of goods in a free market to reach equilibrium automatically. An economy will comparatively work and function well if the government will leave people alone to buy and sell freely among themselves. If people were allowed to trade freely, self interested taders present in the market would compete with each other leading markets towards the positive output with the help of an invisible hand.

Q2 Ans : a Manangers feels that dealing with diversity is paramaount concern for two reasons. First, managers need to know how to motivate divers work groups. Second, managers need to know how to communicate with employees who have different values and language skills.

Q 3 Ans : d A proper allocation of rewards can positively influence both performance and satisfaction. People who receive high reward report higher job satisfaction and improved performance.  

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