Changes Can Be Initiated by the Customer or Be Proposed

question 6

True/False

Changes can be initiated by the customer or be proposed by the contractor.Some changes may necessitate a change in price (increase or decrease); others may not.

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Definitions:

Economic Output

The total value of all goods and services produced by an economy over a specific time period.

Social Welfare

Organized public or private social services for the assistance of disadvantaged groups.

Internalizing External Costs

The process of ensuring that the prices of goods and services fully reflect all the costs and benefits, including those impacts on the environment and human health that are not accounted for in the market price.

Environmental Degradation

The deterioration of the environment through depletion of resources such as air, water, and soil; the destruction of ecosystems; and the extinction of wildlife.