Monitoring That All Payments Are Made Refers to Which of the Following

question 30

Multiple Choice

Monitoring that all payments are made refers to which of the following Project Procurement Management processes?

• A)Plan Procurements
• B)Conduct Procurements
• C)Administer Procurements
• D)Close Procurements
• E)Plan Exit Strategy

---

Definitions:

Law of Demand

The principle that there is an inverse relationship between the price of a good and the quantity demanded, holding other factors constant.

Quantity Demanded

The total amount of a good or service that consumers are willing and able to purchase at a specific price level.

Other Things Equal

A concept that assumes all other variables are kept constant except the ones being studied.

Demand Curve

A graph representing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase at that price.