Which of the Following Is a Component of the Specific

question 62

Multiple Choice

Which of the following is a component of the specific environment that would directly influence a restaurant's day- to-day operation?

• A) its regular customers
• B) GNP
• C) a trend toward eating less fat
• D) more rigid enforcement of OSHA laws
• E) all of these

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Definitions:

Price Decreases

A reduction in the selling price of goods or services.

Marginal Utility

The extra gratification or benefit received from using an additional unit of a product or service.

Video Game Rental

A service that allows consumers to borrow video games for a limited time period before returning them.

Perfectly Competitive Market

An economic scenario where numerous producers and consumers in the market have no ability to influence prices or product quality, allowing for free and fair competition.