Before Work Can Begin on the Project, the Customer Must

question 4

Multiple Choice

Before work can begin on the project, the customer must

• A) announce who won the bid for the project so the work can start immediately.
• B) contact the contractor and say the project is the winner so the work can start immediately.
• C) sign a contract with the contractor that includes the project start date and payment plan.
• D) assess the risks for completing the project on time and reduce the award amount if there is any risk.

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Definitions:

PQ Remains Same

A situation in economic terms where the price level (P) and quantity (Q) of goods and services in the market stay unchanged over a period.

Velocity V

Velocity V typically refers to the velocity of money, a measurement of the rate at which money is exchanged in an economy.

Percentage Fall

A measure that indicates the decrease in a value or quantity, expressed as a percentage of its previous value.

Full Employment

A situation in which all available labor resources are being used in the most economically efficient way.