Examlex
Are strategic or operational plans needed? Does long-term planning make sense in all situations? These decisions are affected by three contingency variables.In a short essay, list the three planning contingency factors and illustrate how these factors influence planning.
World Price
World Price is the international price of a good, determined by global supply and demand, affecting domestic markets.
Domestic Market
The availability and need for products and services inside the boundaries of a nation.
Surplus
A situation where the quantity of a product or resource exceeds the quantity demanded or utilized.
Producer Surplus
The difference between what producers are willing to accept for a good or service versus what they actually receive, reflecting additional benefit to producers.
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