L3M3 Exam Dumps : Contract Administration

Explanation

The answer is 'environmental'.

Explanation

This is true. Profit is what is left over after you've covered all your costs. In simple terms.

Explanation

Cost of production, and shareholder and managerial expectations of profit, are both internal factors in decision-making. Although shareholders may be outside the firm, management will condition shareholders' expectations. Customer perception of value and the extent of marketplace competition are significantly outwith the control of the company.