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Knowledge quiz

It’s time to put what you’ve learned to the test, get 7 questions right to pass this unit.

Q1.

In which format, any participant who does not accept a price level for an item, becomes inactive?

Choose the correct answer.

Q2.

What permits participants to enter primary bids, and secondary bids.

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Q3.

What is used when cost components are different across suppliers.

Choose the correct answer.

Q4.

In which format, the supplier prices are progressively lowered in an effort to outdo competition?

Choose the correct answer.

Q5.

What is used to account for frequent price fluctuations across standard commodities.

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Q6.

What is used to determine how suppliers itemize cost components.

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Q7.

In which format, the suppliers are motivated to accept the listed price as soon as they can or risk losing?

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Q8.

What is used to include factors other than price into cost terms, such as shipping costs.

Choose the correct answer.