________ Is Recognizing the Opportunity to Satisfy a Need and Collecting

question 90

Multiple Choice

________ is recognizing the opportunity to satisfy a need and collecting resources to meet that need.

• A) Strategic management
• B) Organizational theory
• C) Organizational behavior
• D) Entrepreneurship

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Definitions:

Socially Optimum

The optimal distribution of resources and production from a societal perspective, where social welfare is maximized.

Social Perspective

The viewpoint focusing on how societal contexts influence individuals and groups, including norms, values, and social institutions.

Marginal Private Benefit

The extra advantage gained by either the consumer or producer from the consumption or production of an additional unit of a product or service.

Efficient

Refers to the optimal use of resources to achieve the desired outcome with minimal waste or effort.