___ Refers to the Preparation of Managers and Others to Deal

question 141

Multiple Choice

___ refers to the preparation of managers and others to deal with unexpected high-impact events that threaten an organization's well-being.

• A) Fiscal responsibility
• B) High context planning
• C) Relief anticipation management
• D) Impact avoidance goal setting
• E) Crisis management

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Definitions:

Economic Profit

The difference between total revenues and the total costs of a firm, including both explicit and implicit costs.

Gas Station

A retail business establishment that sells fuel and engine lubricants for motor vehicles.

Prices Charged

The amount of money demanded by a business in exchange for its goods or services.

Long Run

A period during which all factors of production and costs are variable, allowing firms to adjust to desired levels.