The Project Definition Justifies the Need for the New Project

question 917

Multiple Choice

The project definition justifies the need for the new project. What would you expect to see in the project justification?

• A) project scope, resources needed, and amount of time required
• B) project scope, resources needed, and developing the solution
• C) resources needed, amount of time required, and preparing supporting documentation for the system chosen
• D) amount of time required, alternative analysis, and implementation review

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Definitions:

Income Elasticity

A measure of how much the demand for a good or service changes in response to a change in consumers' income levels.

Normal Good

A good for which demand increases as consumer income rises, and decreases as consumer income falls.

Inferior Good

A type of good for which demand decreases as the income of the consumer increases, as opposed to a normal good where demand increases with income.

Linear Demand Curve

A demand curve that shows a straight-line relationship between price and quantity demanded, suggesting a constant rate of change.