Final answer:
A flood that destroyed a portion of a company's inventory is an external event and not an internal one, and affects the supply side of the company's operations. Good weather is an external condition that can positively affect supply. It's possible for another flood of similar magnitude to occur within the next 20 years.
Step-by-step explanation:
False. An example of an internal event would be a decision made within the company, such as a change in strategy or a new product launch. A flood that destroyed a portion of a company's inventory would be considered an external event, as it is a natural disaster that occurs outside of the company's control and can affect the supply of goods the company has to sell. Good weather, in contrast, is an external natural condition that positively affects supply by perhaps increasing agricultural production or reducing disruptions in transportation.Regarding the economic event, when it comes to determining whether an economic event affects supply or demand, one must consider the source and nature of the event. A natural disaster like a flood clearly affects supply by diminishing the availability of products, whereas other factors might affect demand.
An example of an internal event would be a fire that destroyed a portion of a company's inventory. This is because the cause of the event was within the company's control and not influenced by external factors. A flood, on the other hand, would be classified as an external event since it is caused by natural factors outside of the company's control.In response to the question about the likelihood of a similar flood event occurring, it is possible for a flood with a similar discharge to that of the event from 9/23/2009 to happen again in the next 20 years, as weather patterns can be cyclical and unpredictable.