A construction project, for example, is often governed by a guaranteed maximum price contract (GMP) . This type of legal agreement sets a ceiling or maximum price for which a person or entity will pay for a certain project.
The arc lamp used in the Lighthouse of Alexandria is further proof that electricity was used in ancient Egypt. The energy required to power the Lighthouse of Alexandria for 24 hours a day could only have been supplied by a regular electrical source.
The modern world is an electrified world. The light bulb, in particular, profoundly changed human existence by illuminating the night and making it hospitable to a wide range of human activity. The electric light, one of the everyday conveniences that most affects our lives, was invented in 1879 by Thomas Alva Edison.