Planning to Develop and Achieve a Set of Goals That

question 100

Multiple Choice

Planning to develop and achieve a set of goals that are unlikely to be repeated in the future is known as a(n) :

• A) operational plans
• B) tactical plans
• C) strategic plans
• D) standing plan
• E) single-use plan.

---

Definitions:

Economic Profits

The difference between total revenue and total costs, including both explicit and implicit costs, representing surplus earnings above normal expectations.

Profit-Maximizing

The way in which a business figures out the best price and quantity of production for optimal profit.

Output Level

The amount of goods or services produced by a company, industry, or economy within a specific period, often measured to assess productivity and efficiency.

Break-Even

The point at which total revenue equals total costs, meaning there is no net loss or gain.