Which of the Following Is the First Step in Conducting

question 11

Multiple Choice

Which of the following is the first step in conducting a SWOT analysis?

• A) Study the environment for changes in consumer needs.
• B) Compare the value chains of the firm and its competitors.
• C) Match internal strengths to possible external opportunities.
• D) Scan the environment for significant shifts in market segments.

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Definitions:

Deadweight Loss

A loss of economic efficiency that can occur when equilibrium is not achievable or not achieved in a market.

Subsidy

A financial contribution granted by the government or a public body to support businesses or consumers, making goods or services more affordable.

Manure

Organic matter, mainly derived from animal feces, used as fertilizer in agriculture.

Price Elasticity

A measure of the responsiveness of the quantity demanded or supplied of a good or service to a change in its price.