The Organisation's General Environment Consists Of

question 8

Multiple Choice

The organisation's general environment consists of:

• A)employee satisfaction
• B)external forces that can indirectly affect the organisation
• C)external forces that can directly affect the organisation
• D)internal systems, policies and procedures
• E)internal values, assumptions, and artefacts

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Definitions:

Difference

The result of subtracting one value from another, often used in various contexts like mathematics, statistics, and economics.

X-Inefficiency

The difference between efficient behavior of businesses in a competitive market and their actual behavior due to a lack of competitive pressure.

Pure Competition

A market structure characterized by an unlimited number of small sellers, identical products, and free entry and exit, leading to perfect competition.

Oligopoly

A market structure in which a few companies dominate the industry, having significant control over prices and supply.