In an Effort to Make Better and More Efficient Purchase

question 175

Multiple Choice

In an effort to make better and more efficient purchase decisions,the Ford Motor Company forms loosely organized groups of people who work together on purchase decisions.The people included in these groups change depending on the purchase situation and may include key personnel from various departments,including research and development,finance,marketing,shipping,and sales.Such a loosely organized group of people within an organization who are involved in the purchase decision is called an organizational

• A)selling committee.
• B)sustainable procurement department.
• C)purchasing unit.
• D)buying center.
• E)buying committee.

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Definitions:

Tax Code

The laws and regulations governing the taxation process in a country.

Saving

The portion of income not spent on consumption but rather set aside for future use or investment.

Time Inconsistency

The phenomenon where a decision-maker's preferences change over time, leading to choices that may not align with their long-term goals.

Monetary Policy

The process by which a central authority, usually a central bank, controls the money supply and interest rates to achieve economic objectives.