Examlex

Solved

Aggregating the Catalogs of All Approved Suppliers and Combining Them

question 59

True/False

Aggregating the catalogs of all approved suppliers and combining them into a single electronic catalog is an effective solution for internal procurement because it minimizes maverick buying.


Definitions:

Public Good

A product that is non-excludable and non-rivalrous, meaning it can be consumed by multiple people without diminishing availability to others.

Total Quantity Demanded

The sum of all individual quantities of a good or service demanded at a given price level within a specified period.

Public Good

A product that is non-excludable and non-rivalrous in consumption, meaning its use by one individual does not reduce its availability to others.

Excludability

A characteristic of a good or service that allows owners or producers to prevent others from using it without permission.

Related Questions