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.

Grasp the concepts of hierarchy, differentiation, and integration in organization structure.

Understand the strategies for building competitive advantage, including low-cost, differentiation, and focused strategies.

Recognize the importance of environmental assessment in shaping organization design.

Identify and describe the location and structure of major endocrine glands including the thyroid, adrenal, and thymus glands.

---

Definitions:

Interest Rate

The cost of borrowing money or the return on savings, usually expressed as a percentage.

Interest Rate

The percent of principal charged by the lender for the use of its money or the rate earned on deposited funds.

Revenues

Revenues are the total amount of money generated by a company from its business activities, such as the sale of goods or services, before any costs or expenses are deducted.

Interest Rate

The interest rate is the cost of borrowing money or the return earned from lending money, typically expressed as a percentage of the principal amount per year.