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A Study of the External Environment Allows a Manager to Understand

question 111

Multiple Choice

A study of the external environment allows a manager to understand the ________ and ________ for the organization.


Definitions:

United States

A country in North America comprising 50 states, known for its significant economic and political influence globally.

Mexico

A country located in the southern portion of North America, known for its rich cultural heritage, diverse landscapes, and vibrant cuisine.

Opportunity Cost

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

Machinery

Refers to machines or automated systems that contribute to the manufacturing or production process.

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