Every Organization Must Respond to the Needs of _______________

question 30

Multiple Choice

Every organization must respond to the needs of _______________.

• A) its customers or clients
• B) legal and political constraints
• C) economic and technological changes
• D) All of the choices are correct.

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Definitions:

Consumer Surplus

The difference between what consumers are willing to pay for a good or service versus what they actually pay.

Negotiated Price

The outcome of a bargaining process between two or more parties, where the final price of a good or service is agreed upon.

Cooperation

A process whereby individuals or entities work together towards common goals, often resulting in mutual benefit.

Strategies

Carefully devised plans or methods aimed at achieving specific long-term objectives or solving problems.