Michael Would Like to Complete This Development Project Quickly So

question 73

True/False

Michael would like to complete this development project quickly so that the IS department may move onto more strategic needs. He has assigned Joan to coordinate the project because she worked recently with a local vendor and has an established relationship. Michael has decided to use package software for this project.

---

Definitions:

Top-Of-The-Line

Describes products, services, or goods of the highest quality available within a specific category or market segment.

Price Elasticity of Demand

A measure of how sensitive the quantity demanded of a good is to a change in its price.

Elastic

Refers to a market for a product or service that is price sensitive; that is, relatively small changes in price will generate fairly large changes in the quantity demanded.

Specific Brand

A particular brand that is identified by its unique name, symbol, or design, used to distinguish it from other brands within the same category.