Howard Is Reflecting on the Rapid Change in the Inflation

question 10

Multiple Choice

Howard is reflecting on the rapid change in the inflation rate that was once stable.The rise in oil prices by 50% over the past year has dramatically caused every company to increase the prices of their products.What environment is oil part of?

• A) resource environment
• B) technological environment
• C) specific environment
• D) general environment

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Definitions:

Social Group

A collection of individuals who interact with each other, share similar characteristics, and collectively have a sense of unity or identity.

Common Attribute

A feature or characteristic shared by members of a group or category, which can facilitate grouping, comparison, or differentiation.

Cross-Cultural

Pertaining to or comparing two or more cultures, analyzing differences and similarities in behaviors, traditions, and values.

Hofstede

A framework for cross-cultural communication, developed by Dutch sociologist Geert Hofstede, that describes the effects of a society's culture on the values of its members, and how these values relate to behavior.