Economics B A-Level
Strategic planning
What Strategic planning means in Economics B A-Level, as defined for Pearson Edexcel.
Definition of Strategic planning
Check what you remember
Read the wording for your board, then hide it and explain Strategic planning in your own words. Rough notes are fine. This is a self-check, with no mark or grade.
Reference: Pearson Edexcel
Using understanding of income elasticity of demand to decide on expansion, sales forecasting and production schedules.
Topics that use Strategic planning
- Income elasticity of demand (YED) (Pearson Edexcel A-Level)
Related terms
- Economic cycle
- Income elasticity of demand (YED)
- Inferior good
- Percentage change
- Product portfolio management
- Luxury good
- Normal good
- Normal luxury good
Using Strategic planning in the exam
Check the command word and mark scheme for your exact question. After comparing your explanation with the reference, use the term in an answer on the linked topic. This practice does not predict an exam mark.
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