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A Change in Demand Is Said to Take Place When

question 38

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A change in demand is said to take place when there is a


Definitions:

Materials

The tangible substances or components used in the construction or manufacture of a product within a project.

Request For Quote

A formal document that an organization sends to suppliers or service providers asking them to provide a price estimate for specified goods or services.

RFP

Request for Proposal; a document that solicits proposal, typically made through a bidding process by an agency or company interested in procurement of a commodity, service, or valuable asset.

Bidder

An individual or entity that makes an offer in response to a tender, aiming to secure a contract or project.

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