Which Term Refers to the Systematic, Regular Monitoring of Major

question 66

Multiple Choice

Which term refers to the systematic, regular monitoring of major external forces influencing the organization?

• A) demand forecasting
• B) environmental scanning
• C) exception reporting
• D) influence analysis

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Definitions:

Short Run

A period in which at least one of a firm's inputs is fixed and cannot be varied.

Variable Costs

Expenses that directly fluctuate in accordance with the amount of production or output.

Average Cost

The total cost of production divided by the number of units produced, indicating the cost per unit.

Fixed Costs

Costs that do not vary with the level of production or business activity, such as rent, salaries, and insurance.