Units 4-7, Chapter 4 from the text. There will be 20 multiple choice questions, and 3 essay questions: 1.) Explain the purchasing process for a business - explain where the 4 key Documents (PR, RFx, PO and Invoice) fit into the process. (10pts) 2.) Either: Explain 3 reasons why a business would make something instead of buy it OR Explain 3 reasons why a business would buy something instead of making it. (5pts) 3.) Either: Explain the differences between negotiating with a supplier in an oligopoly vs monopoly situation OR Explain why a business might not want to specify every detail of an item they want to purchase when writing a product specification. (5pts)
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