Which of the Following Best Explains the Concept of 'Purchasing

question 60

Multiple Choice

Which of the following best explains the concept of 'purchasing effectiveness'? 

• A) Purchasing within budget 
• B) An assessment of costs and outputs achieved. 
• C) The extent to which, by choosing a certain course of action, a previously established goal standard is being pursued. 
• D) The extent to which, by choosing a certain course of action, a previously established goal standard is being met.

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Definitions:

Points Along

Specific locations identified on a graph or line that represent data points or positions related to a particular value.

Budget Constraint

An economic model that shows the combination of goods and services a consumer can purchase with a given income.

CDs

Compact Discs, an optical storage medium used to store digital data including music, which has largely been replaced by digital downloads and streaming services.

Budget Constraint

The limitations on the consumers' ability to buy goods and services due to limited income and the prices of goods.