An Industry Can Be Defined as

question 126

Multiple Choice

An industry can be defined as

• A)a group of firms that compete to sell a specific product.
• B)any company that produces and sells products.
• C)the set of buyers of a particular good or service.
• D)the top companies that sell a product.

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Definitions:

Environmental Uncertainty

The extent to which an organization lacks information about its external environment, making it difficult to predict future events or trends.

Environmental Impact

The effect or influence of human activities on the natural environment, including both negative and positive consequences.

External Environment

All outside factors and influences that impact the operation and performance of an organization, including economic, technological, sociocultural, and political factors.

Interest Groups

Collections of individuals or organizations that unite to promote and advocate for shared concerns or objectives.