Kelly Addison Is a Designer Clothing Buyer for a Chain

question 33

Multiple Choice

Kelly Addison is a designer clothing buyer for a chain of department stores. She has gone through several negotiation certification programs and is considered an expert negotiator by her peers.
-Using a price-cost comparison on Kelly is unlikely to be effective because:

• A)Kelly is buying products to resell immediately,not to get long-term value from
• B)Kelly is attempting to increase the margin between price and cost
• C)Kelly has no wiggle room on cost,only on price and pricing schedule
• D)Kelly cannot negotiate cost as part of her job description
• E)Kelly won't know how much the difference between price and cost should be until after the sale goes through

Examine the unintended effects of economic policies, including price controls.

Realize the role of policymakers in influencing market outcomes through regulations like taxes and minimum-wage laws.

Identify and explain the mechanisms through which price controls are intended to protect consumers or producers.

Understand the concept and implications of rent control as a form of price ceiling.

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Definitions:

Nondisclosure

A legal agreement or clause that prohibits sharing confidential information with unauthorized parties.

Negligence

Negligence is the failure to take reasonable care to avoid causing injury or loss to another person, resulting in legal liability for any damages caused.

Duress

A condition in which a person performs an act as a result of violence, threat, or other pressure against the person, rendering any agreement made under such conditions potentially voidable.

Criminal Lawsuit

A legal proceeding brought against an individual or entity accused of committing a crime, with the intention of achieving a formal judgment of guilt.