Which of the Following Is True of the General Environment

question 68

Multiple Choice

Which of the following is true of the general environment?

• A) It contains opportunities and threats that are easier to identify and respond to than those in the task environment.
• B) It comprises the set of forces that originate with global suppliers, distributors, customers, and competitors.
• C) It includes the wide-ranging global, technological, sociocultural, and political forces that affect organizations.
• D) It contains the forces that have the most immediate effect on managers and their decisions.
• E) It contains forces that have very little impact upon the performance of organizations.

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Definitions:

Imperfect Competitor

A firm or entity that has some control over the market price of its product because it does not operate in a perfectly competitive market.

Perfect Competitor

A theoretical market structure where many firms offer identical products, firms are price takers, and there are no barriers to new firms entering the market.

Imperfect Competitor

A market participant who does not follow the norms of perfect competition, possibly due to having some control over prices or market share.

MRP

The additional revenue a firm earns by employing one more unit of input, assuming other inputs remain constant, often used in the context of labor.