What are the major characteristics of government markets?
What will be an ideal response?
The government market offers large opportunities for many companies, both big and small. In most countries, government organizations are major buyers of goods and services. Government organizations typically require suppliers to submit bids, and normally they award the contract to the lowest bidder. In some cases, a governmental unit will make allowances for the supplier's superior quality or reputation for completing contracts on time. Governments will also buy on a negotiated contract basis, primarily in the case of complex projects involving major research and development ((R&D) costs and risks, and in cases where there is little competition. Government organizations tend to favor domestic suppliers over foreign suppliers.
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Which of the following is TRUE of President Trump’s position or actions toward climate change issues?
a. He has put his support behind a carbon tax. b. He has sought to strengthen Obama’s regulatory measures. c. He publicly doubts the science behind climate change claims. d. He seems unconcerned with the effect of regulation on job creation.
Only the value of the inventory that is sold will appear in the income statement
Indicate whether the statement is true or false
Which is not a strategy for a retailer to increase its average sale?
a. placing impulse goods in high-traffic locations b. opening additional hours c. increasing impulse sales d. suggestion selling
A purchase is recorded in the purchases journal by entering all of the following except a(n):
a. invoice number. b. post reference. c. supplier. d. date.