Use the Following to Answer the Questions Below

question 116

Multiple Choice

Use the following to answer the questions below.
The Steele Bike Company has completed a total cost analysis for two suppliers of bicycle frames to support their business. They also consider on-time speed, top quality and customization in their selection process. Each criterion is given a weight (total = 100 points) , and each supplier is scored on each criterion (1 = poor, 10 = excellent) . The data are shown in the following table.

-Refer to the instruction above. Using the preference matrix approach for selecting suppliers, what is State's total weighted score?

• A) 570
• B) 100
• C) 23
• D) 590

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Definitions:

Domestic Goods

Are products and services that are produced within a country's borders, as opposed to imported goods from other countries.

Federal Revenues

The income received by the federal government from taxes, fees, and other sources used to fund government operations and programs.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Import Quota

A government-imposed limit on the quantity or monetary value of a certain good that can be imported into the country.