Cost Variance CV) Is _____

question 31

Multiple Choice

Cost variance CV) is _____.

• A) earned value minus actual cost
• B) earned value minus planned value
• C) the ratio of earned value to planned value
• D) the ratio of earned value to actual cost
• E) budget at completion minus the earned value

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Definitions:

Excludable

A characteristic of a good or service that means it can be limited to only paying customers or those who meet certain criteria.

Market Demand

The total quantity of a good or service that all consumers in a market are willing and able to purchase at various prices.

Individual Demand Curves

Graphical representations showing the relationship between the price of a good and the quantity demanded by an individual consumer, holding other factors constant.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by anyone and one person's use does not reduce its availability to others.