Which Method of Business Buying Is Most Likely to Be

question 57

Multiple Choice

Which method of business buying is most likely to be used when the products being purchased are standardized based on certain characteristics?

• A) Homogeneous selection
• B) Inspection
• C) Description
• D) Sampling
• E) Negotiation

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Definitions:

Global Supply Chains

Networks that span across international borders designed to source and supply materials and products, taking advantage of global efficiencies in the delivery of goods and services.

Logistics Technology Systems

Integrated software and hardware solutions designed to optimize the management of the flow of goods from origin to consumption.

FOB Point

A shipping term indicating the point at which the ownership and risk related to goods are transferred from seller to buyer, defined in terms of location.

Legal Title

A formal recognition of ownership of property or assets which includes the rights to use, sell, or control the said property or assets.