Supplier power is one of Porter's five forces and it measures the suppliers' ability to influence the prices they charge for supplies (including materials, labor, and services).

Answer the following statement true (T) or false (F)


True

Business

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Most products are established at one of four performance levels: low, average, high, or superior. For example, mountain bikes come in a variety of sizes and physical attributes

When a consumer purchases a mountain bike costing $1,000, he or she expects the bike to perform to specifications and to have a high ________, meeting the promised specifications. A) features B) conformance quality C) durability D) performance quality E) reliability

Business

The standard unit cost is developed before the standard costs for direct materials, direct labor, and overhead can be set

Indicate whether the statement is true or false

Business

The overarching solution to the bullwhip effect is simply for supply chain members to share information and work together

Indicate whether the statement is true or false

Business

Which of the following is not a major influence on pricing decisions?

A. Political, legal, and image-related issues. B. Costs. C. Competitors. D. Planning and control policies of the firm. E. Customer demand.

Business