If There Is a Good Fit Between the Venture's Bundle

question 49

Multiple Choice

If there is a good fit between the venture's bundle of resources and the external environment: 

• A) the firm will be rewarded with superior performance.
• B) the entrepreneur will be unable to compete in the market segment.
• C) environmental variables will be irrelevant.
• D) demand uncertainty will be irrelevant.

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded by consumers equals the quantity supplied by producers.

Market

A place or system where buyers and sellers interact to exchange goods, services, or information.

Consumer Surplus

Consumer Surplus is the difference between the highest price a consumer is willing to pay for a good or service and the actual price they pay.

Tax

A mandatory financial charge or some other type of levy imposed on a taxpayer by a governmental organization in order to fund government spending and various public expenditures.