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L3M1 PDF

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  • Questions: 90 Q&A's With Detailed Explanation
  • Printable Format
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  • Verified Answers
  • Researched by Industry Experts
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L3M1 PDF + Testing Engine

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  • Exam Name: Procurement and Supply Environments
  • Last Update: 04-Dec-2024
  • Questions and Answers: 90
  • Single Choice: 71 Q&A's
  • Multiple Choice: 19 Q&A's

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L3M1 Questions and Answers

Question # 1

Which of the following are core stakeholders of a private sector organisation? Select all that apply.

A.

The local authority / government where the headquarters building is located.

B.

Customers

C.

The insurers of the headquarters building

D.

Shareholders

Question # 2

Think carefully.

There is low consumer demand; production capacity is unused; prices are stable or are falling; busi-ness profits are low; unemployment is high; and business confidence is low. Is this:

A.

Recovery

B.

Recession

C.

Boom

D.

Depression

Question # 3

Which of the following could be described as an organisation?

A.

A local authority / local government

B.

A self-employed tutor of online education

C.

The University of Phoenix, Arizona

D.

A business such as Ethiopian Airlines

Question # 4

Doing the same with fewer resources is:

A.

Efficiency

B.

Effectiveness

C.

Economy

D.

Explanation

E.

Efficiency.

Question # 5

Under a contract with a price adjustment clause, which of the following would commonly be grounds for price adjustment (depending on the precise contract terms)?

A.

Quality problems brought about by supplier’s haste to complete the contract to aid their cashflow

B.

Substantially escalating materials costs

C.

Exchange rate fluctuations

D.

Desire by shareholders to have increased profits

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