A(n) __________ allows employees to pick and choose from various benefit options to best meet their needs.
Fill in the blank(s) with correct word
Question 2Which of the following laws states that as a family's income increases, the percentage spent on food will decrease?
a. Consumption law
b. Engel's law
c. The law of diminishing returns
d. Case law
Question 3The goal of _____ is to be able to understand, identify, and exploit cost savings opportunities that may have been overlooked by business unit managers or even by suppliers in bringing the products and services to the appropriate location.
a. Marketing research
b. Make-buy analysis
c. Value chain analysis
d. Price analysis
e. Cost analysis
Question 4A(n) __________ is a specified amount paid annually for a job regardless of the number of hours worked.
Fill in the blank(s) with correct word
Question 5The term used to describe how many units of currency are needed in one country to buy the amount of goods and services that the same unit of currency will buy in another country is called:
a. price index.
b. the exchange rate.
c. purchasing power parities.
d. value added.
Question 6The _____ is a solicitation document that is used by organizations to obtain general information about services, products, or suppliers and is used generally before a specific requisition of an item is issued.
a. e-RA
b. PO
c. RFP
d. RFI
e. RFQ
Question 7Some new employees have a(n) __________, or a test period of a few months to determine if they will fulfill the needs of the organization.
Fill in the blank(s) with correct word
Question 8Interpretation of demographics requires some degree of:
a. knowledge transfer.
b. experiential knowledge.
c. justification knowledge.
d. a priori knowledge.
Question 9In supplier analysis, _____ requires identifying critical performance criteria and identifying relative competitive performance.
a. benchmarking
b. make/buy analysis
c. insourcing/outsourcing analysis
d. Porter's Five Forces analysis
e. cost analysis
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