According to the Textbook,which of the Following Is a Benefit

question 87

Multiple Choice

According to the textbook,which of the following is a benefit of planning?

• A)It improves vertical integration of departments. 
• B)It encourages people to engage in behaviours directly related to goal accomplishment. 
• C)It encourages people to remain with the company,rather than go to work for the competition. 
• D)It eliminates the need for change agents.

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Definitions:

Long Run Adjustments

Changes made by firms or economies over time to adapt to market conditions, wherein all inputs can be varied and no factors are fixed.

Industry Profits

The total earnings generated by companies within a specific industry, after all costs and expenses are deducted.

Increasing-cost Industry

An industry in which the costs of production increase as the industry output increases, often due to the inputs' prices rising as demand for them grows.

Long-run Supply Curve

A graphical representation showing the quantities of goods that a producer is willing and able to supply over a period when all costs are variable.