The Planning/control Cycle Has Two Planning Steps

question 69

Multiple Choice

The planning/control cycle has two planning steps. They are

• A) (1) research planning, then (2) receive feedback.
• B) (1) make the plan, then (2) set it aside for a period of time.
• C) (1) make the plan, then (2) carry out the plan.
• D) (1) review previous plans, then (2) evaluate plans.
• E) (1) research planning, then (2) look for ways to cut costs.

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Definitions:

Law of Demand

The principle that there is an inverse relationship between the price of a good and the quantity demanded, holding other factors constant.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level.

Other Things Equal

A concept that assumes all other variables are kept constant except the ones being studied.

Demand Curve

A graph representing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase at that price.