Which Statement(s) Regarding an Organisation's Environment Is/are True

question 70

Multiple Choice

Which statement(s) regarding an organisation's environment is/are true?

• A) The environment is a critical element of the open systems model.
• B) Feedback from the environment tells an organisation how well it is doing.
• C) The environment is a supplier of resources and a source of customers.
• D) All of these are false statements regarding an organisation's environment.
• E) All of these are true statements regarding an organisation's environment.

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Definitions:

Equilibrium Quantity

The quantity of goods or services supplied that is exactly equal to the quantity demanded at the market price.

Supply Increases

A situation where the quantity of a good or service that producers are willing and able to sell at a specific price rises.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, resulting in market stability.

Demand Decrease

A downward shift in the demand curve for a product, indicating that consumers now desire less of it at every price.