It is illegal for a company to use bait-and-switch pricing tactics.
a. True
b. False
Indicate whether the statement is true or false
Question 2For standard items, the negotiation process is an efficient method to purchase relatively straightforward requirements.
a. True
b. False
Indicate whether the statement is true or false
Question 3When determining the price to charge for a good or service, the company's operating expenses are not a factor.
a. True
b. False
Indicate whether the statement is true or false
Question 4Buyers use competitive bidding when price is a minor criteria and the required item (or service) has complex material specifications.
a. True
b. False
Indicate whether the statement is true or false
Question 5Sports and entertainment businesses must follow socio-culture trends closely.
a. True
b. False
Indicate whether the statement is true or false
Question 6The process that buyers use to select suppliers does not vary widely depending on the required item and the relationship that a buyer has with its suppliers.
a. True
b. False
Indicate whether the statement is true or false
Question 7List the five steps for determining the price to charge for a good or service. Provide an example of each step using a sports or entertainment product or event.
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