What Is a Set of Policies, Procedures, Standards, Processes, Practices

question 58

Multiple Choice

What is a set of policies, procedures, standards, processes, practices, tools, techniques, and tasks that people apply to technical and management challenges?

• A)SDLC
• B)Methodology
• C)Waterfall
• D)Agile

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Definitions:

Maximum Price

A price ceiling set by a government or regulatory body, above which a particular good or service cannot be sold, often to protect consumers.

Equilibrium Prices

The price at which the quantity of a good supplied is equal to the quantity demanded, leading to market balance.

Consumer Surplus

The difference in the total amount that customers are ready and financially able to invest in a good or service and the amount they truly pay.

Producer Surpluses

The difference between what producers are willing to sell their goods for and the actual price they receive.