An Approved Vendor Master File Is a Computer File Containing

question 38

True/False

An approved vendor master file is a computer file containing pertinent information on vendors and suppliers that have been approved to purchase services from and make payments to.

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Definitions:

Shift

A change in demand or supply where the entire curve moves either right (increase) or left (decrease), signifying changes in market conditions.

Supply Curve

A visual chart demonstrating the link between a product's price and the amount producers are willing to supply.

Movement

In economics, this can refer to changes in market conditions, such as price movements, or the migration of people or capital between regions or sectors.

Excess Supply

A situation where the quantity of a product offered for sale exceeds the quantity demanded at the current price, often leading to a decrease in price.