Which of the Following Is True of Contingency Planning

question 78

Multiple Choice

Which of the following is true of contingency planning?

• A) It is a formal plan for how to achieve an objective.
• B) The supervisor creates a contingency plan by answering the questions what, who, when, where, and how.
• C) It is too time-consuming to create a written contingency plan for every detail of operations.
• D) Contingency plans are the original plans developed by the top managers for the organization as a whole.

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Definitions:

Diminishing Marginal Product

Diminishing marginal product is an economic principle stating that adding an additional factor of production results in smaller increases in output after a certain point.

Variable Cost

A cost that varies with the level of output or production activity.

Marginal Product

The marginal product is the additional output gained by employing one more unit of input, such as labor, in the production process.

Bouquets

Arrangements of flowers, often decorative and used as gifts or for special occasions.