In a Straight Rebuy Situation,the Need for Purchase Occurs When

question 53

Multiple Choice

In a straight rebuy situation,the need for purchase occurs when:

• A)the existing systems are to be updated.
• B)a new technology is to be introduced.
• C)inventory is low.
• D)a service is to be outsourced.

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Definitions:

Bill of Rights

A collective name for the first ten amendments to the United States Constitution, guaranteeing such rights as the freedoms of speech, assembly, and worship.

Inelastic Demand

A situation in which the demand for a product does not significantly change in response to a change in price.

Necessity

An essential requirement or need for survival or to maintain a certain standard of living.

Luxury

Goods or services that are considered non-essential but desired for their quality, status, or comfort they provide.