The General Environment, or Macroenvironment, Includes Six Forces: Economic, Technological

question 9

True/False

The general environment, or macroenvironment, includes six forces: economic, technological, sociocultural, demographic, political-legal, and international.

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Definitions:

Input

Resources used in the production of goods and services.

Output

The total amount of goods or services produced by an individual or entity in a given period.

Function

In mathematics, a relation or expression involving one or more variables, where each input value yields one and only one output value.

Production Function

A mathematical model that describes the relationship between the quantity of output produced and the quantities of inputs used in production.