Changes in the Technological Environment Could Be Rejected by the Cultural

question 333

True/False

Changes in the technological environment could be rejected by the cultural and social environment-through the political and legal environments-even though such changes might help the economic environment.

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Definitions:

Credit Option

An agreement that gives the buyer the right, but not the obligation, to borrow funds or extend credit under specified conditions.

M3

M3 is a measure of the money supply that includes M2 (cash, checking deposits, and easily convertible near money) plus large time deposits, institutional money market funds, and larger liquid assets.

Reserve Ratio

A regulation set by central banks determining the minimum amount of reserves that must be held by a commercial bank, expressed as a percentage of the bank's total deposits.

Money Supply

The complete collection of monetary funds in an economy, including cash, coins, and the balances in checking and savings accounts, at a given moment.