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Default Formula in a cell depending on the value of another cell

I have two different formulas (which contain multiple IF statements) that I
am using in my worksheet. Which one of those formulas that I want the cell
to use depends on the value in another cell.

For example, let's say the two formulas I'm working with a
(1) =IF(C7*D719,"CRITICAL","PRIORITY")
(2) =IF(C7*D710,"CRITICAL","PRIORITY")


I want cell G7 to use formula #1 above if the value of cell A7 is "N/A";
otherwise, I want cell G7 to use formula #2.

Can I do this in Excel?

Thanks!
 
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