_____ Includes All Elements Existing Outside the Boundary of the Organization

question 4

Multiple Choice

_____ includes all elements existing outside the boundary of the organization that have the potential to affect the organization.

• A) Organizational environment
• B) Internal environment
• C) Task environment
• D) General environment
• E) Technological environment

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Definitions:

Marginal Revenue

The additional income received from selling one more unit of a product or service.

Marginal Cost

The expenditure required to create another single unit of a good or service.

Output

The overall quantity of products or services generated by a business, sector, or the economic system.

Profit-Maximizing

A strategy or goal aimed at achieving the highest possible profit through adjusting production levels, prices, or other factors.