Which of the Following Terms Can Be Defined as "The

question 40

Multiple Choice

Which of the following terms can be defined as "the shared experiences, stories, beliefs, and norms that characterize an organization"?

• A) organizational dynamics
• B) a business mission
• C) an ethical/value statement
• D) customer relationships
• E) corporate culture

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Definitions:

Capital

Refers to financial assets or the financial value of assets, such as cash and goods, used in a business to generate wealth through investment or production.

Substitution Effect

The change in consumption patterns due to a price change that makes one good more economically attractive than its alternatives.

Output Effect

Output Effect is the impact on total production or output when a firm adjusts its resources, such as labor or capital, in response to changes in market conditions.

Substitute Resource

A resource or product that can be used in place of another to fulfill a similar function or need.