A Business Plan Is a Document That Is Used for Internal

question 12

True/False

A business plan is a document that is used for internal purposes only.

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Definitions:

Bureaucratic

Pertaining to a system of administration characterized by strict policies, procedures, and hierarchy.

Short-run Average Total Cost

The total cost of production (fixed and variable costs combined) divided by the quantity of output produced, calculated when some factors of production are fixed.

Factory

A manufacturing facility where goods are produced or assembled.

Efficient Scale

The level of production at which a company can produce its products at the lowest average cost per unit, maximizing efficiency.