Continuous Planning Is Not Necessary, Because Plans That Worked Well

question 115

True/False

Continuous planning is not necessary, because plans that worked well in the past are likely to continue to work well in the future.

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Definitions:

Price Signalling

A mechanism where the price of a good or service provides information to buyers and sellers which influences their decisions.

Cartels

An association of independent firms or countries that agree to coordinate their production and pricing decisions to monopolize a market and maximize collective profits.

Collusive Agreement

A secret or illegal cooperation or conspiracy, especially between competitors, aimed at deceiving or gaining an unfair advantage in the market.

Dominant Firm

A company that has a major share of the market for a particular product or service, often able to influence market conditions.