A Paving Contractor Wants to Work on Road Construction Contracts

question 139

Multiple Choice

A paving contractor wants to work on road construction contracts administered and paid for by the state government. The contractor submits a sealed proposal to the state department of transportation for each construction job. The proposal contains a description of how the contractor will fulfill the specifications for the job at a specified price. The contractor is engaging in:

• A) Odd-even pricing.
• B) Prestige pricing.
• C) Leader pricing.
• D) Bid pricing.
• E) Price lining.

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Definitions:

Purchase Agreement

A legally binding contract outlining the terms and conditions under which a transaction (sale and purchase) of goods, services, or property is made.

Assumption

The act of taking on a duty, responsibility, or belief, often based on a logical premise or evidence.

Sheriff's Certificate

A document issued by a sheriff as part of legal proceedings, often confirming the status of something, such as the outcome of a sale or possession of property.

Mortgage Financing

The process of securing a loan by using property as collateral, typically used by individuals or businesses to purchase real estate.