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What are the three basic types of cost estimating? Describe each type.
Strike Fund
A pool of money set aside by labor unions to support workers during a strike, helping to cover lost wages and other expenses.
Best Bargain
Refers to the most advantageous deal available in terms of price, quality, or both, offering exceptional value for the buyer.
Dealer Accept
A situation where a dealer or retailer agrees to take on a product for sale or acknowledges terms in a contractual agreement.
Threaten Walk Out
A negotiation tactic where one party expresses their willingness to leave the discussion or terminate the relationship if their demands or conditions are not met.
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