What Is the Best Reason for Retailers to Develop and Maintain

question 26

Multiple Choice

What is the best reason for retailers to develop and maintain relationships with multiple and sometimes competing suppliers?

• A) Buyers need to always have a way to cut and move on to better vendors without a break in the supply chain
• B) A function of retailers is to provide assortments, so they must deal with a variety of suppliers
• C) By working with multiple suppliers, retailers tend to make better negotiators
• D) A variety of vendors assures more buys on behalf of the retailer
• E) A buy should never be contracted with a sole supplier

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Definitions:

Formal Statement

A formal statement typically refers to an official, explicitly articulated declaration of facts, intentions, or principles.

Empirical Measure

A method or metric that is based on observation or experience rather than theory or pure logic.

Causal Statement

A declaration that indicates a cause-and-effect relationship between two events or variables.

Positive Economics

A branch of economics that focuses on describing and explaining the economic world as it is, not as it should be.