The Difference Between a Business Plan and a Business Case

question 14

Multiple Choice

The difference between a business plan and a business case is that:

• A)business cases are brief and general,while business plans are long and detailed.
• B)a business case is a part of every business plan.
• C)all businesses need a business case,but not a business plan.
• D)all businesses should have a business plan,but only businesses planning a new major EC or IT initiative should develop a business case.

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Definitions:

Quantity Supplied

The level of goods or services that producers are eager and capable of selling at a determined price.

Price

The amount of money expected, required, or given in exchange for something else, such as a good or service.

Price Ceilings

A legal maximum price set below the equilibrium price for a good or service, aimed at preventing prices from becoming too high.

Equilibrium Price

The cost at which the amount of a product or service that consumers want to buy is equal to the amount that sellers want to sell, resulting in a balanced market.