The procurement cycle is the cyclical process of key steps with procuring goods or services. This interactive tool has been developed to guide members through the procurement process with links to relevant knowledge to support you every step of the way through your procurement journey.
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Answer: c. It is at a medium level, somewhere in between extremes, using competitors' prices as a starting point, and adjusting from there.
Explanation:
There is a lot of competition going on in most markets as this competition continues brands begin to look at what each other is doing to be able to beat themselves in the market. They understand that a good price and assured product will make them either loose or gain more clients and customers. This makes them focus on the price of each other and adjust or make out their own price from there.
Answer: Introduction Stage
Explanation: Just took the test
Answer:
a. Fiscal Policy involves changing government purchases and tax. In the United States, Fiscal Policy is implemented by the federal government.
b. An expansionary fiscal policy can be used to address a Recessionary Gap by reducing taxes and increasing government purchases.
Explanation:
Fiscal policy can be described as the employment of the government purchase and taxation level by the federal goveernment with the aim of influencing the aggregate demand and economic activity level.
Expansionary fiscal policy occurs when the government increases its purchases and reduces taxes in order to close Recessionary Gap, while contractionary fiscal policy is when the government reduces it purchases and increases taxes.
Based on this explanation, we have:
a. Fiscal Policy involves changing government purchases and tax. In the United States, Fiscal Policy is implemented by the federal government.
b. An expansionary fiscal policy can be used to address a Recessionary Gap by reducing taxes and increasing government purchases.
Answer:
C. Is top management committed to the study?
Explanation:
Yes, market research is very important for the organisations which can help them in finding new trends and patterns in their consumers, they can find out what are products which they need to launch further, which products are not performing well but the main question before starting the research process is that each and every single person of the organisation should take part in the whole process particularly the top level management should be agrees upon and committed to it otherwise the whole process will go in vain. Because when the top level will be committed, they not only by proving the resources needed for the research but also they will be happily implementing the research findings for the betterment of the organisation. Therefore, top management should be committed otherwise it will just be waste of time and efforts.
