The Two Planning Roles for Manager Involve

question 33

Multiple Choice

The two planning roles for manager involve

• A) monitoring and disturbance handling.
• B) strategy and operations.
• C) being a figurehead and a spokesperson.
• D) team building and team play.

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Definitions:

Long-run Equilibrium

This is a condition where all factors of production and outputs in an economy or market are optimized and can vary to reach a state of general equilibrium.

Price-taker Industry

An industry in which individual firms have no control over the price of their product and must accept the market price set by the forces of supply and demand.

Price-taker Industry

An industry in which individual firms have no control over the price of their product; they "take" the market price as given.