All of the Costs Associated with the Design, Development, Testing

question 63

Multiple Choice

All of the costs associated with the design, development, testing, implementation, documentation, training and maintenance of a software system are collectively termed as:

• A) total cost of ownership.
• B) economies of scale.
• C) economic value added.
• D) return on investment.
• E) cost to company.

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Definitions:

Trade-Offs

Situations where having more of one thing invariably leads to having less of another due to limited resources or constraints.

Opportunity Costs

The value of the next best alternative that is foregone as a result of making a decision.

Resources

Various elements needed for the production of goods and services, often categorized into natural resources, human resources, and capital resources.

Unemployment Rate

The percentage of the labor force that is jobless and actively looking for employment.