A Police Plan for How to Deal with an Explosion

question 10

Multiple Choice

A police plan for how to deal with an explosion at a chemical plant would be an example of a/an:

• A) reactive plan
• B) contingency plan
• C) operational efficiency plan
• D) strategic plan

---

Definitions:

Opportunity Cost

The value of the next best alternative that is foregone as a result of making a particular decision.

Accounting Profits

The total revenues of a business minus the explicit costs, essentially the net income on the financial statements.

Total Revenue

The total income received by a firm from its sales of goods or services, calculated as the quantity sold multiplied by the selling price.

Barriers to Entry

Factors that prevent or hinder new competitors from easily entering an industry or area of business.