Which of the Following Statements Is True of Planning

question 41

Multiple Choice

Which of the following statements is true of planning?

• A) Planning should begin at the bottom, with a plan for each department.
• B) Planning centers on the setting of goals and objectives.
• C) Planning is the function of ensuring that work goes according to a strategy.
• D) Planning done by top managers is called operational planning.

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Definitions:

Consumer Preference

The subjective tastes and preferences that influence buyers' choices of goods and services.

Equilibrium Quantity

The quantity of goods or services supplied is equal to the quantity demanded at the market price.

Equilibrium Price

The price at which the quantity of a good or service demanded by consumers equals the quantity supplied by producers, leading to a balance in the market.

Consumer Preference

The inclination of consumers toward certain products or services over others based on their characteristics, such as taste, quality, and price.