A Drought Causes Most Fruit Crops to Fail,decreasing the Amount

question 115

Multiple Choice

A drought causes most fruit crops to fail,decreasing the amount of available fruit.The fruitcake market would see:

• A) an increase in the supply of fruitcake.
• B) a decrease in the supply of fruitcake.
• C) no change in the supply of fruitcake, but the demand would increase.
• D) no change in the supply of fruitcake, but the demand would decrease.

---

Definitions:

Detailed Cost Estimates

Detailed cost estimates refer to the comprehensive evaluation of all anticipated costs involved in completing a project, task, or product development.

Actual Cost

The true, total expense incurred for a project, activity, or item.

Earned Value

A project management technique for measuring project performance and progress in an objective manner.

Actual Cost

The final, real amount spent on completing a specific task, project, or acquisition, as opposed to estimated or budgeted costs.