A market situation where there is a small number of large suppliers is called:
Which one of the following is a commercial document issued by a seller stating what the cost would be of supplying certain goods or services, normally in response to an enquiry by the buyer?
'Trade within major trading blocs tends to expand, whereas this is not necessarily the case regarding trade between major trading blocs'. True or false?
In which one of the following sectors would you least expect to find seasonal unemployment:
'Open tendering may impose a substantial administrative burden on the procurement function.' True or false?
One textbook (Profex Publishing) for this course under the heading 'Right price for the supplier' re-fers to:
‘A price which allows the seller to win business, in competition with other suppliers (according to how badly it needs the business, and the prices being charged by its competitors)’
Which of the following mechanisms is being referred to here?
A contract clause which entitles the buyer to hold back 5% of the final price for six months to en-sure everything is in order is known as a --------- clause:
The 'five forces' model is also known as an 'Industry Structure Analysis'.
True or false?
Measurement of an organisation’s carbon footprint uses which gas as a standard measure?
‘The value of a commodity or service measured in terms of the standard monetary unit’ describes:
In one format for describing socio-economic groupings, skilled, semi-skilled and unskilled working class people would be classified as:
Because of the need for frequent or semi-frequent uses of competition, public sector buyers are less likely to find themselves in a close partnership arrangement with a supplierthan private sector buy-ers.True or false?