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A ________ Is a Contract or Contractual Action Entered into by a Prime

question 62

Multiple Choice

A ________ is a contract or contractual action entered into by a prime contractor or subcontractor for the purpose of obtaining supplies, materials, equipment, or services of any kind under a prime contract. Where as in ______________ multiple awards are given for certain contracts to more than one responsible bid. Generally, the contracts are similar in conditions and amounts.


Definitions:

Marketed Products

Goods or services that are actively promoted and sold to consumers through various marketing strategies.

Idea Generation

The creative process of coming up with new ideas, often the first step in the development of new products or strategies.

Rejecting Goods

The act of a buyer refusing to accept delivery of products or services because they do not meet the specified requirements or standards.

Services

Intangible actions or performances that one party can offer to another that does not result in the ownership of anything.

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