In planning terminology, a master plan is usually devised for which type of goals in an organisation or economy?

Introduction / Context:
This question belongs to the area of planning and management, which is also relevant for public policy and Indian planning history. Governments, cities, and organisations often prepare master plans to guide future development. Understanding whether a master plan is about short term, medium term, or long term objectives helps you interpret planning related terms in economics and general studies.

Given Data / Assumptions:

• The term used is master plan.
• The context can be an organisation, a city, or a national economy.
• Options cover long range goals, emergencies, short term targets, investments, and day to day tasks.

Concept / Approach:
A master plan is a comprehensive document that outlines an overall vision and strategy for future development. It usually covers a long time horizon, for example ten to twenty years, and lays down broad policies, land use patterns, infrastructure corridors, and priority areas. It is not meant for daily operations or quick emergency responses. Therefore the key phrase you should link with a master plan is long range or long term goals.

Step-by-Step Solution:
Step 1: Recall that in urban planning, a city master plan typically guides growth for at least a decade or more.Step 2: In corporate planning, a master plan sets out long term vision, mission, and strategic objectives.Step 3: Emergency plans are focused and short term, dealing with disasters or crises, not general long term development.Step 4: Short term goals and day to day tasks are handled through annual plans, budgets, and operational schedules.Step 5: Therefore a master plan is naturally associated with long range goals that extend over many years.

Verification / Alternative check:
You can verify this by thinking of the Five Year Plans of India, which, although medium term, were still linked to longer term perspective plans and visions. Similarly, a campus master plan in a university will talk about where new buildings, hostels, and roads will be placed over a long period. In each case the plan gives direction for the future rather than solving immediate routine issues.

Why Other Options Are Wrong:
Emergency plans are usually contingency plans or disaster management plans, not master plans. Short term goals are covered by operational plans, weekly targets, or quarterly budgets. Investment decisions for individual projects are part of project planning or capital budgeting, not a master plan by itself. Routine day to day tasks are covered under scheduling and operations management, which are far more detailed and short term than a broad master plan.

Common Pitfalls:
Some learners think that because the word master sounds important, it must relate to everything from daily operations to crisis management. In fact, the significance of a master plan lies in its broad, long term nature and its role in coordinating many smaller plans. Another pitfall is confusing a master plan with a specific policy document, but a master plan is usually higher level and more comprehensive.

Final Answer:
A master plan is usually devised for long range goals that extend over many years in an organisation or economy.