________ and ________ Are Approaches to Evaluating Vendor Proposals That

question 37

Multiple Choice

________ and ________ are approaches to evaluating vendor proposals that do not incorporate dollar estimates of costs or benefits.

• A)Benchmark problem;point scoring
• B)Point scoring;requirements costing
• C)Requirements costing;benchmark problem
• D)Point scoring;prototyping

Identify and explain the exceptions to the perfect tender rule.

Recognize obligations of buyers and sellers under the UCC.

Appreciate nuances in contract law concerning acceptance, rejection, and cure of nonconforming goods.

Analyze how course of performance and course of dealing can influence contract execution and expectations.

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Definitions:

Total Revenue

The total income generated by a firm from its sales activity, calculated as the unit price of a good times the quantity of goods sold.

Profit Increase

The rise in the difference between a company's revenue and its expenses, indicating improved financial performance.

Average Total Cost

The total cost of production (fixed plus variable costs) divided by the total quantity produced, indicating the cost per unit of output.

Maximum Profit

The highest possible financial gain that can be achieved by a business or investor, calculated by maximizing the difference between total revenue and total costs.