To What Does the Term Economic Environment Refer

question 86

Multiple Choice

To what does the term economic environment refer?

• A)It refers to the unique micro-economic factors of local markets.
• B)It refers to the application of science to convert resources to output.
• C)It refers to the evaluation of the strengths and weaknesses of current competitors' marketing strategies.
• D)It refers to a marketing mix that customers see as better than a competitor's mix.
• E)It refers to the macro-economic factors that affect patterns of consumer and business spending.

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Definitions:

Goodwill Impairment

A charge that companies record when the value of goodwill on the balance sheet exceeds its fair value, indicating that the asset is overvalued.

Functional Currency

The currency of the primary economic environment in which an entity operates and carries out its transactions.

Life Expectancy

The average period that an individual is expected to live, based on statistical averages.

Functional Currency

The currency of the primary economic environment in which an entity operates and carries out its business activities.