QUESTION 33
Which STEEPLE factor deals with issues of foreign exchange rates, inflation, consumer spending, labour costs and unemployment levels?

QUESTION 34
‘A purchasing procedure whereby potential suppliers are invited to make a firm and unequivocal offer of the price and terms on which they will supply specified goods or services which, on ac-ceptance, shall be the basis of the subsequent contract’

QUESTION 35
What is the name given to costs which do not vary as activity levels in a business increase or de-crease?

QUESTION 36
Contribution is equivalent to:

QUESTION 37
Intangibility means:

QUESTION 38
The variable cost of a bottle of water is 25 cents. Selling price is $1, and fixed costs are one hundred thousand dollars. How many bottles of water must be sold to reach breakeven point?

QUESTION 39
Key players have a:

QUESTION 40
Which of the following is least likely to be called a ‘spot’ purchase?

QUESTION 41
Which of the following are external factors in supplier decision-making? Choose two.

QUESTION 42
Conducting individual and group-based (focus groups) in-depth interviews.
Is this quantitative or qualitative data gathering?

QUESTION 43
The legal lessons included in this course are based on:

QUESTION 44
Goods or services which must be used together are called:

QUESTION 45
What do we call the point when the supply firm makes neither a profit nor a loss ie where all costs are covered yet no profit is made?

QUESTION 46
The letters ‘ESE’ stand for:

QUESTION 47
The official power to make legal decisions and judgments in a given location, for example

QUESTION 48
According to Lysons and Farrington, two authors recommended by CIPS, which of the following are cost-based pricing models, as opposed to market-driven pricing models? Choose two.