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A(n)_____ Occurs When a Buyer Posts Its Interest in Buying

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Short Answer

A(n)_____ occurs when a buyer posts its interest in buying a certain quantity of items,and sellers compete for the business by submitting successively lower bids until there is only one seller left.


Definitions:

Government Regulations

Rules established by government agencies aimed at controlling the way businesses operate.

Outsourcing

The transferring of manufacturing or other tasks—such as data processing—to countries where labor and supplies are less expensive.

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