Highlight three reasons why project planning is carried out. Distinguish between demand and supply. Supply. Highlight four characteristics of a sound motivational system. Explain four types of power that a leader can use in an organization. Discuss four functions of money. Describe three types of project evaluation.

Four Characteristics of Demand:

1. Price of the good: Quantity demanded varies inversely with its own price (law of demand).

2. Income of consumers: Higher income increases demand for normal goods, decreases for inferior goods.

3. Prices of related goods: Increase in price of substitutes increases demand, complements decreases it.

4. Tastes and preferences: Favorable tastes increase demand.

Four Characteristics of Supply:

1. Price of the good: Quantity supplied varies directly with price (law of supply).

2. Prices of inputs: Higher input costs decrease supply.

3. Technology: Better technology increases supply.

4. Number of sellers: More sellers increase supply.

Four characteristics of demand and supply listed above