Frame Corporation Updates Its Five-Year Plan Annually to Take into Account

question 26

Multiple Choice

Frame Corporation updates its five-year plan annually to take into account changing conditions within the organization and in the organization's external environment. Which of the following best explains this plan implemented by Frame Corporation?

• A) Standing plan
• B) Short-term plan
• C) Rolling plan
• D) Single-use plan

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Definitions:

Clothing Market

The economic sector or industry that deals with the manufacture, distribution, and sale of clothing and apparel.

Blu-ray Players

Electronic devices designed to play Blu-ray discs, providing high-definition video and audio playback.

Law of Demand

A principle stating that, ceteris paribus, there is an inverse relationship between the price of a good or service and the quantity of it that consumers are willing to purchase.

Quantity Purchased

The total number of units bought of a particular good or service.