The _____ Represents People in the Environment Who Can Be

question 94

Multiple Choice

The _____ represents people in the environment who can be hired to work for the organization.

• A) competitors
• B) labor market
• C) suppliers
• D) customers
• E) government

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Definitions:

Opportunity Costs

Opportunity costs represent the benefits an individual, investor, or business misses out on when choosing one alternative over another.

Mutually Beneficial Trade

A trade agreement between parties that provides gains or advantages to all involved parties.

Tariff

a tax imposed on imported goods and services, intended to make foreign commodities less price-competitive than domestic goods.

Imports

Imports are goods and services bought by residents of a country from another country, which results in an outflow of currency to foreign markets.