Which of the Following Is a Step in the Contingency

question 106

Multiple Choice

Which of the following is a step in the contingency planning process?

• A)Set up teams trained to deal with emergencies.
• B)Set performance targets to direct all company activities.
• C)Develop alternative courses of action in case an anticipated change does occur.
• D)Assess the company's strengths and weaknesses.

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Definitions:

Demand and Supply of Gasoline

The demand and supply of gasoline refer to the quantity of gasoline consumers are willing to buy at various prices and the quantity of gasoline producers are willing to sell at these prices, respectively.

Initial Equilibrium

The state where supply and demand balances are met at the beginning of an analysis, setting the baseline prices and quantities.

Refining Technology

The process and technology improvements involved in purifying raw materials, particularly in converting crude oil into gasoline, diesel, and other petroleum products.

Consumers' Income

The total amount of income available to consumers for spending and saving after income taxes have been accounted for.