Answer:
procurement factors
Explanation:
A consumers buyer behavior is influenced by four major factors; cultural, social, personal, and psychological factors. These factors cause consumers to develop product and brand preferences
Procurement is used to ensure the buyer receives goods, services, or works at the best possible price when aspects such as quality, quantity, time, and location are compared. Almost all purchasing decisions include factors such as delivery and handling, marginal benefit, and price fluctuations
NO. Lenders doesn't always accept application for credit. They always perform investigation about the financial status of the applicant. Only once the financial status of the applicant is finished reviewed and passed, the application for credit will be accepted.
Answer:
C. Yes. If repair rates are higher for planes that have been resold, this would be an indication of a lemons problem
Explanation:
Lemons problem is an issue of quality of product, asset, investment : due to asymetric information about the respective quality.
Asymetric Information is when one one party in transaction has more knowledge about the quality of product or asset, than the other party.
Second hand goods are an illustration of this case, as seller has more information about the real quality of good or asset than buyer.
Lemon's problem in single engines airplanes : can be analysed by concept of second hand goods 'asymetric information, lemons problem' it. If the 2nd hand resold planes require higher repairs, it indicates that the buyer had asymetric information about bad quality of planes ( the information which seller had), but realisation of bad quality later implies higher repairs.
