A Relationship with a Supplier That Is Characterized by High

question 9

Multiple Choice

A relationship with a supplier that is characterized by high levels of distrust,little communication,and short-term transactions is called a(n) :

• A)Adversarial relationship.
• B)Arm's-length relationship.
• C)Acceptance of mutual goals.
• D)Full partnership.

---

Definitions:

Government Regulate

The activities undertaken by government authorities to control or oversee specific industries, practices, or market activities usually to ensure public welfare or fair market competition.

Economic System

The structure of methods and principles a society uses to produce and distribute goods and services.

Price Mechanism

The way in which the forces of supply and demand determine the price of goods and services in a free market.

Efficient Allocation

The process where resources are distributed in a manner that maximizes the net benefits attained through their use.