A Supplier That Is Contracted to Create and Provide a Customized

question 60

Multiple Choice

A supplier that is contracted to create and provide a customized input to a local firm is called a(n) _________.

• A)acquirer
• B)coordinator
• C)subcontractor
• D)advocate

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Definitions:

Oral Auction

A public auction where bids are made verbally, allowing participants to increase their bids until the highest bid is reached and the item is sold.

Optimal Bidding

The strategy of placing the most advantageous bid in an auction or competitive environment, balancing the potential benefit against the cost.

Shade Bid

A strategic bidding tactic where the bid is intentionally made lower or higher than what is considered fair or anticipated, often used in auctions or competitive tenders.

High-value

Items, services, or relationships deemed to have significant worth or importance, often based on their quality, utility, or rarity.