All of the Following Statements Correctly Describe a Contemporary Approach

question 22

Multiple Choice

All of the following statements correctly describe a contemporary approach to create the Work Breakdown Structure (WBS) for a project EXCEPT:

• A) Project teams may adopt a top-down approach to construct the WBS.
• B) Project teams may rely upon a WBS from a previous project as a starting point.
• C) Project teams may rely upon the project manager to create the entire WBS
• D) Project teams may jump start the effort with a brainstorming session.

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Definitions:

Binding Price Floor

A government or regulatory-imposed price control that sets the minimum price that can be charged for a good or service, above the equilibrium price, leading to potential surpluses.

Surplus

Surplus refers to the amount by which production, resources, or inventory exceeds what is needed or used, often resulting in excess supply.

Nonbinding Price Floor

A minimum price set by the government that is below the equilibrium price, having no effect on the market.

Minimum Wage

The lowest legal hourly wage that employers can pay to workers, set by government regulation.