The Information in the External Environment Which the Organization Potentially

question 6

Multiple Choice

The information in the external environment which the organization potentially uses for decision making is known as

• A)input communication.
• B)throughput communication.
• C)output communication.
• D)open communication.
• E)closed communication.

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Definitions:

Average Total Cost

The cost per unit of output, calculated by dividing the overall production costs by the number of units produced.

Profit-maximizing

A strategy or point where a business reaches the highest possible profit level with given operational limits and market conditions.

Total Revenue

the overall amount of money generated by a firm from its sales activities before any costs or expenses are subtracted.

Variable Cost

Costs that change in proportion to the activity of a business such as the cost of raw materials.