In Organizations, the Buying Function Involves Gathering and Screening Information

question 74

Multiple Choice

In organizations, the buying function involves gathering and screening information about products and services, prices, and suppliers, which are known as

• A) agents.
• B) procurement sources.
• C) shops.
• D) vendors.
• E) resellers.

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Definitions:

Economic Change

The process through which a country's economy grows, evolves, or transforms due to various factors such as technology, policies, and market conditions.

Incentives

Motivations or rewards designed to encourage specific behaviors or actions, often used in economic, workplace, or educational contexts.

Economic Thinking

A systematic approach to analyzing financial decisions and phenomena, employing principles of economics to evaluate costs, benefits, and impacts.

Objectively

Objectively means considering something based on facts and without influence from personal feelings or biases.