An Approach to Pricing in Which Two Charges Are Determined

question 79

Multiple Choice

An approach to pricing in which two charges are determined, one charge for labour used on the job and another charge for the materials used on the job, is called:

• A) time and material pricing.
• B) variable cost pricing.
• C) competitive bidding.
• D) absorption cost pricing.

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Definitions:

Job Fits

The degree to which an individual's skills, experiences, and personality are aligned with the requirements and culture of a job or organization.

Groupthink

A psychological phenomenon where the desire for harmony and conformity in a group leads to incorrect or dysfunctional decision-making outcomes.

Critical Evaluator

A role or capacity to assess situations or intellectual propositions with depth and insight, emphasizing thorough analysis and judgement.

Nominal Group Technique

An approach to decision-making that structures interaction among team members discussing problems and ideas.