Two External Factors That Are Elements of an Environmental Scan

question 19

True/False

Two external factors that are elements of an environmental scan are the economic climate and work force demographics

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Definitions:

Damages

Financial compensation awarded to a plaintiff in a lawsuit for losses or injuries suffered due to another party's actions.

Entry Restrictions

Regulations or barriers that prevent new competitors from entering an industry or market, often to protect existing businesses and control market dynamics.

Revenue Function

A mathematical representation that calculates the total revenue generated by selling goods or services at different prices.

Total Profits

The overall financial gain made by a business, calculated as the total revenue minus total expenses.