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Describe the role of the project portfolio manager in relation to the roles of project manager and program manager.
Equation
A mathematical statement that asserts the equality of two expressions, represented by the symbol "=".
Luxury
Goods or services that are considered non-essential but desirable, often associated with high quality and high price.
Price Elastic
The responsiveness of the quantity demanded or supplied of a good to a change in its price. High elasticity means quantity changes significantly with price changes.
Necessity
A requirement or indispensability; something that cannot be done without.
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