A Purchasing or Contracting Provision That Reserves a Certain Percentage

question 65

Multiple Choice

A purchasing or contracting provision that reserves a certain percentage of funds for minority-owned contractors is best defined as

• A)a set-aside.
• B)a racial allocation.
• C)de facto segregation.
• D)racial gerrymandering.
• E)an opt-out.

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Definitions:

Unitary-elastic

A demand or supply situation where the percentage change in quantity demanded or supplied is exactly equal to the percentage change in price.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good consumers are willing and able to purchase at various prices.

Profit

The financial gain made by a business when revenue exceeds expenses.

Relationship

A connection, association, or involvement between two or more parties, often referring to interpersonal or business contexts.