Firms Can Be Categorized by the Type of Purchasing Strategy

question 59

Multiple Choice

Firms can be categorized by the type of purchasing strategy they use._____ usually contact familiar suppliers and place an order with the first that can meet product and delivery requirements.

• A) Strugglers
• B) Actualizers
• C) Optimizers
• D) Satisficers
• E) Experiencers

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Definitions:

Drawee

The party in a transaction who is directed to pay a specified amount of money, often referenced in the context of a check or draft.

Consumer Note

A debt instrument in which the buyer agrees to pay the seller a specified amount of money at a later date, often with interest.

Negotiable Instrument

A document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payer named on the document.

Certified Cheque

A bank-endorsed cheque that confirms the drawer has sufficient funds in their account to cover the cheque's amount.