Regarding Goals and Objectives,which of the Following Statements Would Be

question 262

Multiple Choice

Regarding goals and objectives,which of the following statements would be MOST ACCURATE?

• A)Objectives convert an organization's mission and business into long- and short-term performance targets.
• B)Goals and objectives are actually the detailed day-to-day activities necessary to implement a marketing program.
• C)A company's goals and objectives are often worthy in intent,but unrealistic in practice because they are never accomplished during the specified time period.
• D)Goal-setting only applies to business firms;nonprofit organizations typically do not set goals because they don't earn a profit.
• E)The terms goal and objective should not be used interchangeably.Goals are philosophical while objectives are performance-based.

Assess the role of marginal revenue and marginal cost in determining profit-maximizing output levels.

Understand the conditions leading to long-run equilibrium in monopolistically competitive markets.

Distinguish among short-run profits, losses, and break-even points for firms in different market conditions.

Recognize changes in productive capacity and the introduction of new products as factors affecting monopolistic competition.

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Definitions:

Multiplier

An economic factor that quantifies the impact of a change in investment, government spending, or other financial activity on the overall economy.

Marginal Propensity

Refers to the increase in personal consumer spending that occurs with an increase in disposable income.

Aggregate Expenditure

The total amount spent on goods and services in an economy at a given level of income during a specific period.

Marginal Propensity

The ratio of the change in consumption or saving to the change in income, indicating how income changes affect spending or saving behaviors.