According to Your Text,perhaps the Most Common Mistake a Firm

question 81

Multiple Choice

According to your text,perhaps the most common mistake a firm makes when conducting a SWOT analysis is

• A)looking at only the firm's strengths.
• B)failing to involve all departments in the analysis.
• C)failing to separate internal issues from external issues.
• D)underestimating the competitive environment.
• E)not looking at the firm's financial statements.

---

Definitions:

Competitive Pure Exchange Economy

An economic model where agents trade existing goods without the production of new goods, guided purely by their own self-interest to find an equilibrium.

Contract Curve

In economics, a curve that shows the efficient allocations of goods or services that benefit two parties in an exchange, assuming no externalities.

Utility Function

A mathematical representation of how different combinations of goods or services produce levels of happiness or satisfaction for an individual or entity.

Pareto Optimal

A state of allocation of resources in which it is impossible to make any individual better off without making at least one individual worse off, indicating an efficient distribution of goods and resources.