A System in Which Vendors Are Eliminated Based on Certain

question 8

Multiple Choice

A system in which vendors are eliminated based on certain minimum criteria is called:

• A)weighting system.
• B)evaluation system.
• C)screening system.
• D)process of elimination.

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Definitions:

Market Price

The actual selling price of a product or service in the marketplace at any given time, determined by supply and demand.

Tuition Bonds

Financial instruments issued by educational institutions to fund their operations and expansion, typically repaid from tuition revenues.

Rate of Interest

The charge, as a percentage of the initial loan amount, incurred by a borrower for the utilization of funds or assets from a lender.

Company Cost

Expenses incurred by a business in the process of producing goods or services, including operational, production, and capital costs.