Questions

Market failure arises because it is not possible for the market to correctly weight cost and benefits in a situation in which some of the cost is completely unaccounted.

Demand-side market failures happen when demand curves do not reflect consumer’s full willingness to pay for goods or services.

Supply-side market failures occur when supply curves do not reflect the full cost of producing a good or services.

This section identifies and describes the five Project Management Process Groups required for any project. These five process Groups have clear dependencies and are performed in the same sequence on each project.

The five Process Groups are :

Initiating  Process Group - Defines and authorizes the project or a project phase

Planning Process Group - Defines and refines objectives, and plans the course of action required to attain the objectives and scope that the project was undertaken to address.

Executing Process Group - Integrates people and other resources to carry out the project management plan for the project

Monitoring and Controlling process Group - Regularly measures and monitors progress to identify variances from the project management plan so that corrective action can be taken when necessary to meet project objectives.

Closing Process Group - Formalizes acceptance of the product, service or result and brings the project or a project phase to an orderly end.

A man with colour blindness will see red and green as same. 

"Humidity" refers to the presence of water vapor in the atmosphere. It is measured in either relative terms (relative humidity) or absolute terms (dewpoint temperature).Humidity indicates the likelihood for precipitation, dew, or fog to be present.