Predicting the Future in Terms of Environmental Scanning Requires Assumptions

question 194

Multiple Choice

Predicting the future in terms of environmental scanning requires assumptions about

• A)the total potential investment required to achieve the company's goals.
• B)the total potential revenues that could be generated as a result of additional investment now.
• C)the number of years the trends will continue and the factors that cause these trends to change.
• D)the skills the marketing department has to be able uncover trends in the marketplace.
• E)the effectiveness of the tools employed,such as scenario casting.

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Definitions:

Normal Good

a good for which demand increases when consumer income rises, and falls when consumer income decreases.

Equilibrium Price

The market price at which the quantity demanded of a good equals the quantity supplied, leading to market balance.

Video Game Discs

Physical media used for storing video game content for use on consoles and computers.

Excess Supply

Excess Supply, also known as surplus, occurs when the quantity supplied of a good exceeds the quantity demanded at the current price.