A Family That Cannot Afford the Basic Necessities of Life,or

question 65

Multiple Choice

A family that cannot afford the basic necessities of life,or purchase enough to physically sustain its members,lives in:

• A) material deprivation.
• B) marginal poverty.
• C) absolute poverty.
• D) relative poverty.

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Definitions:

Analogous Estimate

A cost estimation technique that uses the actual costs of previous, similar projects as the basis for estimating the cost of the current project.

Budgeted Cost

An estimate of all financial resources allocated for specific activities or the entire project.

Earned Value

A project management metric that measures project performance by comparing the work performed's value to the planned value and actual cost.

Actual Cost

The total expense incurred for a project, activity, or item, reflecting the real financial expenditure.