The Is/are the External and Internal Circumstances That Surround the Business

question 82

Multiple Choice

The is/are the external and internal circumstances that surround the business.

• A)The business environment
• B) The factors of production
• C) The business corral
• D)The business disciplines

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Definitions:

Oil Embargo

An official ban on the trade of oil with a particular country or countries, often imposed by one or more countries as a form of economic sanction.

OPEC Countries

Member countries of the Organization of the Petroleum Exporting Countries, an intergovernmental organization that coordinates petroleum policies among its members to secure fair and stable oil prices.

Aggregate Supply Curve

A graphical representation that shows the relationship between the overall price level in an economy and the total output produced by firms.

Potential Output

The maximum amount of goods and services an economy can produce when it is most efficiently utilizing all of its resources.