All of the Following Are Environmental Forces That Affect an Organization

question 176

Multiple Choice

All of the following are environmental forces that affect an organization EXCEPT:

• A)economic
• B)geographical
• C)social
• D)regulatory
• E)technological

Understand the concept of profit-maximizing in labor markets.

Comprehend the characteristics of monopsony in the labor market.

Distinguish between the labor supply curves facing a purely competitive employer and a monopsonist.

Recognize how firms determine the level of employment and wage rates in competitive vs. monopsonistic markets.

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Definitions:

Supplies

Items that are used in the daily operations of a business or organization, often consumed in the process.

Accounts Receivable

Receivables from customers for products or services rendered by a company, awaiting payment.

Accounts Payable

An accounting entry representing a company's obligation to pay off a short-term debt to its creditors or suppliers.

Correcting Entry

An accounting entry made to correct any erroneous or previously misunderstood transactions recorded in the financial statements.