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L3M3 Exam Dumps : Contract Administration

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Contract Administration Questions and Answers

Question 1

Which of the following are internal factors in supplier decision-making? Choose two.

Options:

A.

Extent of competition in the marketplace

B.

Cost of production

C.

Shareholder and managerial expectations of profit

D.

Customer perceptions of value

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Question 2

‘Profit is not a cost’. True or false?

Options:

A.

True

B.

False

Question 3

What is the term for a situation where a seller sets a high introductory price for a new product, to attract buyers who have a strong desire to get the product early, and who can afford it? The price then gets gradually reduced over time.

Options:

A.

Price discrimination

B.

Market skimming

C.

Promotional pricing

D.

Contribution pricing