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5 Cards in this Set
- Front
- Back
Standardization
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Enables the fair comparison of items based on a common unit of measurement.
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SDLC
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Analysis
Requirements Design Development Implementation |
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CPI
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Consumer Price Index
A measure of how much prices have increased on an annual basis Using the CPI, nominal prices, also known as current prices, can be adjusted for inflation enabling a fair comparison of the amounts over many years. |
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Real Value
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Prices are those prices that have been adjusted for inflation
Also INFLATED ADJUSTED VALUE |
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Nominal Value
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Prices are current or original prices - the cost of an item at the time of purchase
Also CURRENT VALUE |