객관식
Which of the following is a feature of a purely competitive market?
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3. The Market Forces of Supply and Demand
Competitive Markets
객관식
In the context of competitive markets, which of the following is an example of an operational plan?
A
A central bank's policy to adjust interest rates
B
A firm's decision to increase production in response to higher market demand
C
A firm's long-term strategy to enter a new market
D
A government's decision to impose a price ceiling on a good
검증된 단계별 안내1
Understand the concept of an operational plan: it refers to short-term, day-to-day decisions and actions a firm takes to manage its current operations effectively.
Identify the nature of each option: determine whether it relates to short-term operational decisions, long-term strategic planning, or policy decisions by external entities.
Recognize that a central bank's policy to adjust interest rates is a macroeconomic policy decision, not an operational plan of a firm.
Note that a firm's long-term strategy to enter a new market is a strategic plan, which is broader and longer-term than an operational plan.
Conclude that a firm's decision to increase production in response to higher market demand is an operational plan because it involves immediate, practical adjustments to current operations.
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