Which of the Following Is the Best Example of a Modified-Rebuy

question 143

Multiple Choice

Which of the following is the best example of a modified-rebuy situation?

• A) The purchase of a replacement hamster as the class mascot
• B) Bidding on a new high school multi-purpose gymnasium to replace one built in 1963
• C) The purchase of three large screen computer monitors to replace smaller monitors
• D) The annual purchase of calendar refills for the desks of all company executives
• E) The monthly updating of computer virus protection

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Definitions:

High Level of Autonomy

A state or condition of having significant independence or freedom in decision-making or actions.

Federal Arbitration Act

A United States federal statute that provides for the enforcement of arbitration agreements within the context of federal and interstate matters.

Final and Definite Award

In arbitration, a conclusive decision given by an arbitrator that resolves the dispute and is binding on all parties.

Arbitrator's Bias

A situation in which an arbitrator, who is supposed to act as an impartial third-party decision-maker in a dispute resolution process, shows unfair bias towards one of the parties.