a) 'Wait Option' in land development projects explains that the investors can not wait to start the project.

b) 'Switch Option' says that the land developer can switch from one option to another option depending upon the suitability and feasibility.

	1.	Both a and b are true.
	2.	Both a and b are false.
	3.	Option a is false and b is true.
	4.	Option a is true and b is false.