Use the Default Field Property to Specify That an Entry

question 28

Short Answer

Use the Default field property to specify that an entry is required for the field.

Appreciate the impacts of procurement strategies, such as supplier diversification, on procurement costs.

Grasp the concept of landed costs and their relevance to procurement.

Recognize the value and risk associated with different types of procurement items (commodities, generics, criticals, distinctives).

Understand the different types of e-commerce sites and their characteristics.

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Definitions:

Excise Tax

A tax on specific goods, such as alcohol and tobacco, often levied at the manufacturing level.

Imported Good

A product or service that is brought into one country from another, making it available for domestic consumption or use.

Protective Tariff

A tariff designed to shield domestic producers of a good or service from the competition of foreign producers.

Revenue Tariff

A tariff designed to produce income for the federal government.