The Project Final Report Is Fundamentally

question 33

Multiple Choice

The project final report is fundamentally:

• A) An historical record.
• B) A review of human activity.
• C) Window dressing for the project.
• D) A forward-looking document.

---

Definitions:

Law of Diminishing Marginal Utility

An economic principle that states the additional satisfaction a consumer gets from purchasing one more unit of a product will lessen with each additional unit purchased.

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

Total Utility

The total satisfaction or benefit a consumer receives from consuming a specific quantity of goods or services.

Income Effect

The change in an individual's or economy's income and how that change will impact the quantity demanded of a good or service.