Organizations That Are Driven by External Challenges Are

question 54

Multiple Choice

Organizations that are driven by external challenges are

• A) using internal standards
• B) market focused
• C) resource-based
• D) focused on issues of culture

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Definitions:

Marginal Utility

The change in satisfaction or utility an individual gains from consuming an additional unit of a good or service.

Efficient

The quality of achieving maximum productivity with minimum wasted effort or expense.

Utility Functions

Mathematical representations that indicate the level of satisfaction or utility an individual receives from consuming different bundles of goods and services.

Clothing

Textile-based materials worn on the body, primarily used for protection, modesty, and decoration.