When a Firm Analyzes Its Objectives and Performance, Availability of Resources

question 13

Multiple Choice

When a firm analyzes its objectives and performance, availability of resources, structural characteristics, and organizational culture, the firm is most likely examining its:

• A) internal environment.
• B) external environment.
• C) mission statement.
• D) competitive strategy.
• E) strategic environment.

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Definitions:

Labor

The human effort, both physical and mental, that is used to produce goods and services.

Consumer Spending

The total amount of money spent by households and individuals in an economy on goods and services, an important indicator of economic health.

Consumption Expenditures

The total amount of money spent by households and individuals on goods and services for personal use.

Circular Flow Diagram

A visual model of the economy that shows how dollars flow through markets among households and firms.