Which One of the Following Statements Correctly Represents a Benefit

question 4

Multiple Choice

Which one of the following statements correctly represents a benefit of centralized buying?

• A) Local managers have more control over their business.
• B) Purchases and production schedules are meshed more easily.
• C) Purchasing lead times may be shorter.
• D) Increased buying power can result in significant savings in purchasing costs.

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Definitions:

Encoding

The process of converting information or data into a specific format for efficient processing, storage, or transmission.

Decoding

The process of interpreting or making sense of a message or information received.

General Equilibrium

The condition that exists when all markets in an economy are in simultaneous equilibrium.

Economic System

The organized way in which a country allocates resources and distributes goods and services in its society.