Managers Feel Confident That They Can Understand, Predict, and React

question 40

Multiple Choice

Managers feel confident that they can understand, predict, and react to the external forces affecting their businesses when:

• A) resource scarcity is low.
• B) environmental change is extensive.
• C) the industry is not at an equilibrium state.
• D) environmental complexity is high.

---

Definitions:

Suppliers

Entities that provide goods or services to another entity, typically within a supply chain context.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level at a given period.

Demand Curve

Graph of the amount of a product that buyers will purchase at different prices.

Microeconomics

Study of small economic units, such as individual consumers, families, and businesses.