The Project Title Should

question 9

Multiple Choice

The project title should

• A)summarise the need and justification for the project.
• B)state what is expected to be achieved.
• C)state the major end products or items expected to be produced.
• D)be concise and create a vision for the end result of the project.

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Definitions:

Competitive Price-Taker

A market participant who accepts the prevailing market price as given and has no influence over it due to the high level of competition.

Profit

The financial gain attained after subtracting total expenses from total revenues.

Competitive Price-Taker

A business that has no control over the market price and must accept the prevailing market price set by supply and demand forces.

Marginal Revenue Curve

A graphical representation showing how marginal revenue varies with changes in quantity sold.