Which of the Following Is Generally NOT an Element in an RFP

question 38

Multiple Choice

Which of the following is generally NOT an element in an RFP?

• A) statement of values
• B) description of operations
• C) maximum acceptable bid
• D) timetable

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Definitions:

Production Possibility

The combination of goods and services that can be produced given available resources and technology, illustrating the trade-offs in production.

Linear

Describes a relationship or function that represents a straight line when graphed, indicating a constant rate of change.

Positive Economics

The branch of economics that concerns the description and explanation of economic phenomena, focusing on facts and cause-and-effect relationships without making judgments.

Normative Economics

The branch of economic analysis that makes prescriptions about the way the economy should work.