The Group of People Within an Organization Who Participate in the Buying

question 45

Multiple Choice

The group of people within an organization who participate in the buying process and share common goals,risks,and knowledge important to a purchase decision is referred to as the

• A)gatekeepers.
• B)buying center.
• C)purchasing department.
• D)procurement committee.
• E)acquisition office.

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Definitions:

Moral Hazard

Moral hazard occurs when one party in a transaction takes on more risk because they know that someone else will bear the cost of those risks.

Transaction

The act of conducting business between two or more parties, often involving the exchange of goods, services, money, or information.

Moral Hazard

A situation in which one party is more likely to take risks because they know that another party bears the consequences or costs of those risks.

Insured Individuals

People covered by insurance policies, protecting them against financial losses from specified risks.