If You Were to Allow Only a Select Group of People

question 101

Multiple Choice

If you were to allow only a select group of people to use the new system so that you could determine if it was working correctly,what type of implementation method would you be following?

• A)Pilot implementation
• B)Parallel implementation
• C)Plunge implementation
• D)Phase implementation

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Definitions:

Mutual Fund

An investment vehicle comprising a pool of funds collected from many investors for the purpose of investing in securities such as stocks, bonds, or other assets.

Explicit Costs

Direct, out-of-pocket expenses incurred in the operation of a business, such as wages, rent, and materials.

Implicit Cost

The opportunity cost equal to what a firm must give up in order to use resources it already owns, without having to pay rent or purchase them.

Capital

Economic resource that is used in the production of goods and services. It includes tools, buildings, machinery, and equipment.