Since GE Began Accepting Bids Via the Internet,the Length of the Bidding

question 146

Multiple Choice

Since GE began accepting bids via the Internet,the length of the bidding process in GE's lighting division has been reduced from 21 days to 10.Since requesting the bids is easier,purchasing agents approach more potential vendors.The ability to locate more vendors has lowered the cost of goods by 5 to 15 percent.GE's experience illustrates:

• A) how using the Internet decreases competition
• B) how business marketing is becoming global
• C) how business marketing is using the Internet to become more efficient
• D) how the use of the Internet has influenced consumer markets to become larger and more powerful than business markets
• E) how the Internet increases efficiency in data exchange

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Definitions:

Quota

A limit placed on the quantity of a specific good that can be imported or exported during a given timeframe, usually to protect domestic industries.

Excise Tax

A type of tax charged on specific goods, services, and activities, often with the intention of reducing their consumption or generating revenue.

Yachts

Luxury vessels designed for recreation or racing, often seen as a symbol of wealth and luxury lifestyle.

Excise Tax

A tax levied on the sale of specific goods or services, often included in the price of the item such as tobacco or alcohol.