Operating Within the Environment (Scenario)

question 106

Multiple Choice

Operating Within the Environment (Scenario)
The environment places constraints on the behavior of managers. Suppose you are the manager of a real estate office trying to maximize profits. You attempt to understand the forces within your organization's environment.
-A real estate certification program would be considered as which of the following for your organization?

• A) demographic group
• B) pressure group
• C) supplier
• D) customer

Understand the interrelationship between standard health care and alternative health care in America.

Recognize the mixed quality of health information on the Internet and the importance of critical evaluation by patients.

Grasp the impact of health insurance on accessibility to medical care and its financial implications.

Acknowledge the increase in popularity of alternative medicine among well-educated populations and reasons behind it.

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Definitions:

Cable Subscribers

Consumers who pay for access to cable television services.

Unit Elasticity

A situation in economics where a change in the price of a good or service results in a proportional change in the quantity demanded or supplied.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a given price within a specified time period.

Price Elasticity

An indicator that shows the degree to which the demand for a product or service fluctuates following a price adjustment.