RSM100Y1 Chapter : study guide for 2nd chapter
20 Feb 2011
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External environment: everything outside an organization"s boundaries but might affect it: organizational boundaries: that which separates the organization from its environment, multiple organizational environments: figure 2. 1. Business environment, emerging challenges and opportunities, global environment, Standard of living: total quantity and quality of goods and services that a country"s citizens can purchase with the currency used in their economic system (3) gdp: government expenditure+foreign invest+ exports, ((cid:0) Real growth rate: depends on output increasing faster than the population; Standard of living increase if real growth rate exceed growth. Real gdp:gdp adjusted to exclude the changes in currency value and prices. Nominal gdp: measured in dollars or with all components valued at current prices (4) productivity: any activity that adds value to some input, transforming it into an import! ),domestic output for a customer( whether external or internal) National debt: the total amount of money that a country owes its creditors.
