One of the Popular Methods for Assessing the Variety of Businesses/products

question 23

True/False

One of the popular methods for assessing the variety of businesses/products that an organization has involves the creation of a two-dimensional graphical picture of the comparative strategic positions. This technique is referred to as the Boston Consulting Group (BCG) matrix.

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Definitions:

Tax Burden

The total amount of taxes imposed on an individual, company, or economic sector by the government, often expressed as a percentage of income or GDP.

Slightly Elastic

Refers to a situation where a small change in price leads to a relatively small change in the quantity demanded or supplied.

Very Inelastic

Describes a situation where demand or supply hardly changes in response to changes in price.

Tax

A required financial imposition or alternative type of duty enforced on a taxpayer by a governing body to support government funding and assorted public expenses.