Since Companies Are Working to Reduce the Number of Suppliers

question 19

True/False

Since companies are working to reduce the number of suppliers they buy from, customers look for suppliers who can support their operations around the world

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Definitions:

Seller Surplus

The difference between the amount sellers are willing to accept for a good or service and the amount they actually receive.

Unconsummated Transaction

A deal or negotiation that has been discussed or agreed upon in principle but has not been finalized or completed.

Sales Tax

a tax imposed on sales of goods and services, typically calculated as a percentage of the purchase price.

Buyer Surplus

The difference between the maximum amount a consumer is willing to pay for a good or service and the actual amount paid.