Which of the Following Statements About Competitive Bidding Is/are True

question 80

Multiple Choice

Which of the following statements about competitive bidding is/are true?

• A) In a competitive bidding situation, the criterion to select the contractor is always based solely on the design specifications of the job.
• B) Competitive bidding occurs when two or more companies submit a sealed bid for a product, service or project to a potential buyer.
• C) From the perspective of the bidder, quantitative factors are more important than qualitative factors in competitive bidding situations.
• D) In a competitive bidding situation, the criterion to select the contractor is always based solely on the design specifications of the job AND competitive bidding occurs when two or more companies submit a sealed bid for a product, service or project to a potential buyer.

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Definitions:

Ego Transcendence

is achieving a sense of meaning beyond the self, as theorized by Erik Erikson in his stages of psychosocial development, especially relevant in late adulthood.

Physical Limitations

Restrictions on an individual's physical capabilities due to conditions, disabilities, or impairments.

Quantity Theory

A theory in economics that argues the amount of money in circulation in an economy is directly proportional to the price level of goods and services.

Exchange Rate

The value of one country's currency in relation to another country's currency.