Tactical Planning Is Concerned with

question 271

Multiple Choice

Tactical planning is concerned with

• A) determining the best way to cope with an emergency situation.
• B) developing detailed strategies about what is to be done, who is to do it, and how it is to be done.
• C) devising temporary courses of action to be used if the primary plans do not achieve the desired results.
• D) setting long-run goals that will govern the general course of the organization for years.

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Definitions:

Substitute Goods

Substitute goods are products or services that can be used in place of each other, fulfilling similar needs or desires.

Consumer Income

The total amount of income earned by consumers, impacting their ability to purchase goods and services.

Equilibrium Price

The price at which the quantity of goods demanded is equal to the quantity of goods supplied, leading to a market balance.

Equilibrium Quantity

At the market price, the amount of goods or services available perfectly matches the amount consumers want to buy.