Most Purchasing Managers

question 28

Multiple Choice

Most purchasing managers:

• A) reject "vendor analysis" as too subjective.
• B) want to be "sold" by persuasive salespeople.
• C) spend most of their time on new-task buying.
• D) stress dependability as well as lower cost and higher quality.
• E) dislike the higher risk that is involved in buying from a supplier that meets the ISO 9000 standard.

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Definitions:

Absolute Advantage

The ability of an individual, firm, or country to produce more of a good or service than competitors, using the same amount of resources.

Trade Flows

The movement of goods and services across international borders, influenced by tariffs, trade agreements, and global economic conditions.

Free

Pertaining to the availability of a good, service, or resource without the requirement of payment or exchange.

Importers and Exporters

Businesses that specialize in bringing goods into a country (importers) and sending goods out of a country (exporters) to foreign markets.