The Purpose of Environmental Scanning Is to

question 240

Multiple Choice

The purpose of environmental scanning is to

• A) uncover causes of trends in the marketplace.
• B) uncover opportunities in the marketplace.
• C) stop unhelpful trends in the marketplace, and speed helpful ones.
• D) stop unhelpful trends in the workplace, and speed helpful ones.
• E) identify and interpret trends in the marketplace.

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Definitions:

Marginal-cost Curve

The marginal-cost curve represents how the cost of producing one additional unit of a good changes as its production volume varies.

Marginal Product

The additional output that is generated by employing one more unit of a specific input, ceteris paribus.

Total Fixed Cost

The sum of all expenses that remain constant regardless of the level of production or output within a business.

Average Fixed Cost

Calculated by dividing total fixed costs by the quantity of output produced, showing the fixed cost per unit.