A Requirements Contract Is Created When a Buyer Agrees to Purchase

question 19

True/False

A requirements contract is created when a buyer agrees to purchase all of its needs in a certain item from one seller.

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Definitions:

Positive

In economics, it often refers to statements or propositions that can be tested and validated against real-world data, as opposed to normative, which are value-based.

Infinite

A term used to describe a quantity without bounds or end, often used in mathematics and physics to describe an unquantifiably large magnitude.

Zero

A number representing the absence of any quantity or measure; it is a fundamental concept in mathematics and sciences.

Positive

Referring to a condition or quantity that is more than zero, often associated with good or desirable outcomes.