The Process of Monitoring the External Environment Is Called What

question 100

Multiple Choice

The process of monitoring the external environment is called what?

• A) environmental examination
• B) environmental inspection
• C) environmental scrutiny
• D) environmental perusal
• E) environmental scanning

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Definitions:

Equilibrium

The state of the market when supply and demand are equal, ensuring stable prices.

Equilibrium Quantity

Equilibrium Quantity is the quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded in a market.

Increase in Supply

A situation in which the quantity of a good or service that producers are willing and able to offer for sale rises, holding all else equal.

Increase in Demand

Occurs when more of a good or service is sought by consumers at each and every price, often represented by a rightward shift of the demand curve.