Which of these is not a form of purchasing?
a. purchasing
b. procurement
c. process improvement
d. sourcing
Question 2There's a markup (profit to be made) when the manufacturer yields product to the retailer, and there's a second markup (more to be made) when the retailer makes the product available to the consumer.
a. True
b. False
Indicate whether the statement is true or false
Question 3As sample size ____, random sampling error ____.
a. increases; increases
b. decreases; decreases
c. increases; decreases
d. increase; remains unchanged
Question 4Maslow's hierarchy ranges from satisfaction of basic biological needs to more abstract needs regarding well-being.
a. True
b. False
Indicate whether the statement is true or false
Question 5An advantage of e-Sourcing and e-Procurement is that there is little risk involved.
Indicate whether the statement is true or false
Question 6Buyers and sellers usually come to the table as equals when bargaining.
a. True
b. False
Indicate whether the statement is true or false
Question 7The difference between the sample result and the result of an accurate census is called ____.
a. random sampling error
b. systematic sampling error
c. primary sampling error
d. secondary sampling error
Question 8Economists note that imperfect competition occurs because consumers have unique needs and desires.
a. True
b. False
Indicate whether the statement is true or false
Question 9e-Sourcing and e-Procurement are the same.
Indicate whether the statement is true or false
Question 10Arbitration is when the third party makes a binding decision for the two conflicting parties.
a. True
b. False
Indicate whether the statement is true or false
Question 11If Northwest Airlines selects randomly a set of 40 flights on a given day, and then selects randomly a group of ten passengers on each of these flights to participate in an in-flight survey, the passengers are best referred to as a ____.
a. PSU
b. census
c. systematic sample
d. secondary sampling unit
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