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Updating Business Strategies Is a Continuous Undertaking,as Internal and External

question 111

Multiple Choice

Updating business strategies is a continuous undertaking,as internal and external environments ________.

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Definitions:

Economic Theory

A set of principles and models that explain how economies function and how economic agents interact.

Supply Curve

A graphical representation showing the relationship between the price of a good and the quantity of the good that suppliers are willing to offer for sale at those prices.

Demand Curve

A graph that shows the relationship between the price of a good and the quantity of that good that consumers are willing to purchase.

Ceteris Paribus

A Latin phrase meaning "all other things being equal," used in economics to isolate the effect of one variable change.

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