Which of the Following Measures How Well a Proposed System

question 146

Multiple Choice

Which of the following measures how well a proposed system will work?

• A) Operational feasibility
• B) Technical feasibility
• C) Schedule feasibility
• D) Economic feasibility

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Definitions:

Increasing Returns To Scale

Long-run average total cost declines as output increases (also referred to as economies of scale).

Barriers To Entry

Obstacles that make it difficult for new competitors to enter a market, such as high start-up costs or strict regulations.

Prisoners' Dilemma

A standard example of a game analyzed in game theory that shows why two individuals might not cooperate, even if it appears that it is in their best interest to do so.

Tit-For-Tat Strategy

A strategy in game theory where a player replicates the opponent's previous action, generally used in reference to cooperation or retaliation.