Final answer:
The concept being described is Accountability, which is central to attributing individual contributions to a group outcome and is important in a team setting for ensuring fair recognition and compensation.
Step-by-step explanation:
The concept illustrated by a situation in which the principal cannot determine the value created by individual members of a team is Accountability. Accountability refers to the ability to attribute the contributions and outcomes to individual team members. When it is challenging to assess individual input, it can lead to coordination problems like the free rider problem, where individuals may benefit from the group's effort without contributing proportionately.It can also involve issues around managing transaction costs, like the time and effort required to manage or measure individual contributions, and conformity costs, the loss of potential benefits from diverse individual actions.
In a team setting, ensuring Accountability is crucial for fair contribution recognition and rewarding each member according to their work activity and the value added to the collective result.The concept illustrated by a situation in which the principal cannot determine the value created by individual members of a team is Autonomy. Autonomy refers to the ability of team members to make their own decisions and have control over their work. In this situation, the principal lacks the information or control to determine the individual contributions of team members.