Advanco, Which Completes in a Highly Competitive, Fluctuating Market, Uses

question 34

Multiple Choice

Advanco, which completes in a highly competitive, fluctuating market, uses a(n) ________ corporate-level plan so it can make midcourse corrections while keeping its long-term goals in mind.

• A)short-term
• B)single-use
• C)standing
• D)rolling
• E)ad hoc

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Definitions:

Demand Shift

Occurs when a change in factors other than the price of the good itself leads to a change in consumer demand, causing the demand curve to move left or right.

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, leading to no shortage or surplus.

MR

Short for Marginal Revenue, it is the increase in revenue from selling one additional unit of a good or service.

Negative Profits

A financial loss or situation where expenses exceed revenues in a business.