A Large Difference Between Actual and Planned Results Is Feedback

question 190

True/False

A large difference between actual and planned results is feedback that the system is providing adequate control.

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Definitions:

Additional Revenue

Extra income received by a business or government beyond what was originally forecasted or expected.

Factor of Production

Resources used in the production of goods and services, such as labor, capital, land, and entrepreneurship.

Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specific time period.

Productivity

Refers to the efficiency of production in terms of units produced per unit of input, such as labor or capital.