Questions

I. Inputs

• Project scope statement


• WBS dictionary


• Project scope management plan


• Deliverables

II. Tools and Techniques

• Inspection

III. Outputs

• Accepted  deliverables


• Requested changes


• Recommended corrective actions

Software testing is verifying if a software meets the customer's requirements; if it has high quality; if it is bug free and if it is fit for use. Testing is important because it ensures that the product delivered is defect free which in turn emphasizes higher quality and proves to be cost effective.

Opportunity cost is the cost of other alternative choices for making your interested choice of work. Oppurtunity cost is also called as alternative cost.

For example on a holiday, you have two choices to do, either you can go to movie or a function. And if you chose to go to moavie, the oppurtunity cost of going to movie is the value that would have gotten if you had gone to function.

The law of increasing opportunity costs states that as you increase production of one good, the opportunity cost to produce an additional good will increase.