The ________________ Plots a Direction for an Organization's Future Activities

question 171

Short Answer

The ________________ plots a direction for an organization's future activities and operations; it generally covers at least five years.

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Definitions:

Break-Even Point

The point at which total costs and total revenues are equal, meaning no net loss or gain is incurred by the business.

Market Price

The amount of money required to purchase something or the cost at which something can be bought or sold in a free market.

Economic Profit

The difference between total revenue and the sum of explicit and implicit costs.

Marginal Revenue

Marginal Revenue is the additional income received from selling one more unit of a good or service.