Examlex
Which of the following terms refers to knowledge based on customary assumptions that may or may not be accurate?
Political Environment
Refers to the impact of government actions, stability, policies, and regulations on an organization's operations.
Equilibrium Price
The price at which the number of products that businesses are willing to supply equals the amount of products that consumers are willing to buy at a specific point in time.
Supply
The number of products—goods and services—that businesses are willing to sell at different prices at a specific time.
Demand
The number of goods and services that consumers are willing to buy at different prices at a specific time.
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