1. Assume that the price of good X is above the equilibrium price. In such a situation,
There is surplus and the price will fall
There is surplus and the price will rise
There is a shortage and the price will fall
There is a shortage and the price will rise
2. These processes are aggregated into five groups, defined as the Project Management Process Groups:
Initiating Process Group
Planning Process Group
Executing Process Group
Monitoring and Controlling Process Group
Closing Process Group.
PMBOK (2013) state that, within each process group, the individual processes are linked by their inputs and outputs. By focusing on the links, we can describe each process in terms of its;
Inputs – documents or documentable items that will be acted upon
Tools and Techniques – mechanisms applied to the inputs to create the outputs
Outputs- documents or documentable items that are result of the process.
Using the elements outlined above, can you relate in specific terms in the advertising campaign?