The Contractor Needs to Obtain Advance Approval from the Customer

question 144

True/False

The contractor needs to obtain advance approval from the customer before hiring a subcontractor to perform a project task.

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Definitions:

Sherman Antitrust

A landmark federal statute in the U.S. passed in 1890, which outlaws monopolistic business practices.

Restraint Of Trade

A limitation on the full exercise of doing business with others.

Monopoly

The exclusive control of a market by a business enterprise.

Market

A venue or mechanism where buyers and sellers interact to trade goods, services, or securities, determining prices through supply and demand.