If a Major Firm Suddenly Creates a New Product Which

question 2

Multiple Choice

If a major firm suddenly creates a new product which makes the products of its competitors obsolete,this is an example of a force in which type of environment?

• A)General environment
• B)Task environment
• C)Economic environment
• D)Legal environment
• E)Political environment

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Definitions:

Workbook Problems

Exercises and tasks found in a workbook intended to reinforce learning through practice.

Term Paper

A research paper written by students over an academic term, majorly contributing to their grade.

Workbook Problems

Exercises or assignments found in a workbook designed to practice or assess understanding of a subject or topic.

Comparative Advantage

An economic theory that explains how and why it benefits countries to specialize in producing goods in which they have a lower opportunity cost and to trade with others.