The Construct of Environmental Uncertainty Is Typically Composed or Assessed

question 135

Multiple Choice

The construct of environmental uncertainty is typically composed or assessed using which of the following set of variables?

• A)capacity, demand and supply, and economic growth
• B)global GDP, domestic GDP, and local market conditions
• C)volatility, capacity, and complexity
• D)volatility, complexity, and analyzability

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Definitions:

Quota Rents

Revenue earned by the holder of import quotas, calculated by the difference between the domestic price and the world price of the imported goods.

Equalibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Binding Price Ceiling

A government-imposed price limit that is set below the equilibrium price, causing a shortage of the product because demand exceeds supply.

Binding Price Floor

A government-imposed price control or limit that sets the lowest price at which a good can be sold, which is above the market equilibrium price, leading to excess supply.