In the PEST Model of the Business Environment, the "S

question 91

Multiple Choice

In the PEST model of the business environment, the "S" represents which of the following concepts?

• A) stability
• B) standards
• C) stakeholders
• D) social

Understand the impact of changes in fixed costs on average fixed costs and total costs.

Interpret production and cost diagrams to identify cost components and their implications on production decisions.

Relate the concepts of marginal product and marginal cost to the efficiency of production inputs.

Examine how technological advances and changes in variable resources affect production costs.