Which of the Following Are Acceptable in Relationships Between Purchasers

question 37

Multiple Choice

Which of the following are acceptable in relationships between purchasers and suppliers? 

• A) Giving the 'right of first refusal' to your current supplier. 
• B) Accepting invitations to a free dinner event. 
• C) Engaging in a personal friendship with the person who is responsible for ordering or invoicing. 
• D) Accepting invitations to purchase tickets to a charity dinner.

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Definitions:

Production Possibility Frontier

A curve depicting all maximum output possibilities for two or more goods given a set of inputs (resources, technology).

Absolute Advantage

The ability of an entity to produce a good or service more efficiently than its competitors, leading to greater output with the same resources.

Herring

A small, silver-colored fish commonly found in the temperate waters of the North Atlantic, a significant source of food globally.

Opportunity Cost

The cost of an alternative that must be forgone in order to pursue a certain action or in the context of making a decision.