_____ Objectives Can Be Categorized as Either General Need-Satisfying Objectives

question 17

Multiple Choice

_____ objectives can be categorized as either general need-satisfying objectives or specific sales-target objectives.

• A) Environmental
• B) Functional
• C) Corporate
• D) Marketing
• E) Entrepreneurial

---

Definitions:

Profit-maximizing

A strategic objective of businesses where they aim to achieve the highest possible profit from their operations.

Pure Monopolist

A single seller in a market who has complete control over the supply of a product or service, with no close substitutes available, leading to significant market power.

Economic Inefficiency

A situation where resources are not optimally allocated, leading to waste or a loss of potential value in an economy.

Profit-maximizing Output

The level of production at which a firm achieves the highest possible profit, determined where marginal revenue equals marginal cost.