A PEST Analysis Refers to an Assessment of Which of the Following

question 77

Multiple Choice

A PEST analysis refers to an assessment of which of the following types of factors?

• A) political, environmental, sociocultural, and technological
• B) technological, political, sociocultural, and economic
• C) environmental, social, political, and economic
• D) political, economic, social, and technological

Understand the economics of utility functions and how they model consumer preferences.

Identify and analyze the characteristics of different utility functions, including quasilinear, homothetic, and perfect substitutes.

Evaluate consumer choices and trade-offs using marginal rate of substitution (MRS) and indifference curves.

Calculate the effects of changes in consumption on utility levels.

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Definitions:

Self-Centered

Focused primarily on one's own interests, needs, and perspectives, often at the exclusion of others'.

API

Application Programming Interface. Software for interaction with social media platforms.

Web-Based Software

Software that is hosted on a web server and accessed through a web browser over the internet, allowing users to interact with it from any device with browser capabilities.

Social Media Platforms

Online platforms that enable users to create, share, or exchange information, ideas, and content in virtual communities and networks.