An Analysis of the Business Environment Helps Managers Identify Threats

question 46

True/False

An analysis of the business environment helps managers identify threats and opportunities that face their firm.

---

Definitions:

Accountants

Professionals who perform accounting functions such as audits or financial statement analysis; also responsible for bookkeeping.

Wage Rate

The amount of compensation a worker receives per unit of time or output, often expressed per hour or piece.

Price Floor

A government-imposed minimum price above the market equilibrium price, preventing the price of a good or service from falling below this level.

Equilibrium Price

The equilibrium price is the market price at which the supply of an item equals its demand, leading to stable market conditions.