A Group of Shared Characteristics, Behaviors, and Goals That a Firm

question 85

Multiple Choice

A group of shared characteristics, behaviors, and goals that a firm follows in a particular business situation is known as a

• A) business model.
• B) strategic plan.
• C) firm strategy.
• D) business profile.

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Definitions:

Marginal Social Benefit

the additional benefit to society as a whole from consuming one more unit of a good or service.

Marginal Social Cost

The additional cost imposed on society as a whole by producing one more unit of a good or service.

Marginal Benefit Curve

A visual chart illustrating the variation in consumer advantage as the amount of a product or service rises.

Private Market

A part of the financial market in which financial instruments and assets are traded that are not available on the public stock exchanges.