An Analysis of the Environment in Which an Organization Operates

question 34

Multiple Choice

An analysis of the environment in which an organization operates is also known as

• A) political-legal
• B) general
• C) socio-cultural
• D) industry

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Definitions:

Complement

A good or service that is used together with another good or service, increasing demand for one another (e.g., printers and ink cartridges).

Economist Expectation

The forecasts or predictions about economic factors like inflation, growth, or interest rates made by economists.

Quantity Demanded

The specific amount of a good or service that consumers are willing and able to purchase at a particular price.

Economic Profits

Profits calculated by subtracting both the explicit and implicit costs from total revenues, representing the additional value created beyond all opportunity costs.