In Selecting a Vendor, a Buyer May Need to Obtain

question 121

True/False

In selecting a vendor, a buyer may need to obtain competitive bids by means of a document called a purchase order.

---

Definitions:

Health Care

The maintenance or improvement of health via the prevention, diagnosis, treatment, recovery, or cure of disease, illness, injury, and other physical and mental impairments in people.

Perfectly Inelastic

Perfectly inelastic describes a situation where the quantity demanded or supplied does not change in response to a change in price.

Health Insurance

A type of insurance coverage that pays for medical and surgical expenses incurred by the insured or reimburses the insured for expenses incurred from illness or injury.