Examlex
Vendor evaluation criteria should be documented in a(n) ________,which is sent to potential vendors to invite them to submit a proposal describing their software package and how it would meet the company's needs.
Market System
An economic system where the prices of goods and services are determined in a free price system set by supply and demand.
Allocates Resources
The process of distributing available resources among various competing needs and desires to achieve optimal efficiency and effectiveness.
Economic Freedom
The extent of liberty and choice individuals have in conducting their economic activities, including starting and running businesses, with minimal government intervention.
Invisible Hand
A metaphor describing the self-regulating behavior of the marketplace, where individuals' pursuit of self-interest results in benefits for society.
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