The Cost or Benefit of a Market Activity Borne by a Third

question 85

Multiple Choice

The cost or benefit of a market activity borne by a third party is

• A)An externality.
• B)A government directive.
• C)A monopoly.
• D)Black-market economic activity.

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Definitions:

Commitment

The state or quality of being dedicated to a cause, activity, or goal.

Strategic Plans

Long-term visions and goals of an organization, together with the strategies to achieve them.

Operational Plans

Detailed plans formulated at a lower level of the organization to implement strategic objectives through day-to-day operations.

Contingency Plans

Prepared strategies or protocols designed to be implemented in response to unforeseen or possible future events or situations.