The __________ Dimension of the General Environment Consists of Demographic

question 149

Multiple Choice

The __________ dimension of the general environment consists of demographic characteristics, such as population density.

• A) technological
• B) sociocultural
• C) legal-political
• D) internal
• E) economic

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Definitions:

Private Value

The value of a good or service to an individual or firm for personal use, as opposed to its value to society or the economy at large.

Socially Optimal

A situation or outcome that is best from the society's point of view, where social welfare, including benefits and costs, is maximized.

Economic Well-being

A broad measure of the prosperity and quality of life of individuals or societies, encompassing material, social, and environmental dimensions.

Output Decreased

A reduction in the quantity of goods or services produced by a company, industry, or economy.