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The main problem of the SDLC approach to systems development is the ________nature of the process. This refers to the fact that each phase is meant to be completed and not repeated as the project moves on to the next phase.
Real Wages
Wages adjusted for inflation, reflecting the actual purchasing power of income.
Opportunity Cost
Opportunity cost represents the value of the best alternative that must be forgone as a result of choosing a particular action or decision over others.
Labor-saving Devices
Tools, machines, or systems that reduce the amount of labor needed to perform a task or produce a good.
Proprietor's Income
The income earned by the owners of unincorporated businesses for their labor and capital investment.
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