Which of the Follow Is Not One of the Commonly

question 55

Multiple Choice

Which of the follow is not one of the commonly heard comments of project managers?

• A)Where did this project come from?
• B)Why are we doing this project?
• C)How can all these projects be first priority?
• D)Why is this project so strongly linked to the strategic plan?
• E)Where are we going to get the resources to do this project?

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Definitions:

Total Utility

The overall satisfaction or happiness a consumer derives from consuming a certain quantity of a good or service.

Marginal Utility

is the added satisfaction or benefit a consumer gets from consuming one additional unit of a good or service.

Utility-Maximizing Rule

The principle that to obtain the greatest total utility, a consumer should allocate money income so that the last dollar spent on each good or service yields the same marginal utility (MU). For two goods X and Y, with prices Px and Py, total utility will be maximized by purchasing the amounts of X and Y such that MUx/Px = MUy/Py for the last dollar spent on each good.

Budget Constraint

The limitations on the consumption choices of an individual or family due to limited financial resources.