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Froggy Jumps
Froggy Jumps

03/10 SI

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03/10 SI

Froggy Jumps

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Chapter 6 Review (so far)

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Li
Li
United States

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03/10 SI
 

Froggy Jumps

03/10 SIOnline version

Chapter 6 Review (so far)

by Li
1

A café buys coffee beans from a local supplier at the market price with no long-term commitment. What type of procurement method is this?

2

A mechanic purchases a single replacement part from a wholesaler for a one-time car repair. What kind of procurement method is this?

3

A hospital signs a one-year agreement with a medical supplier for a steady supply of gloves and masks. What kind of procurement method is this?

4

An airline locks in a long-term fuel contract to avoid price fluctuations. What kind of procurement method is this?

5

A fashion brand buys a textile factory to produce its own fabric. What kind of procurement method is this?

6

A tech company acquires a chip manufacturer to control its supply chain. What kind of procurement method is this?

7

Which procurement method is not good with specialized inputs?

8

Which of the following is a positive feature about contracts?

9

Why should you choose vertical integration?

10

If there is substantial uncertainty...

11

If bargaining costs are high...

12

If specialized inputs are required...

13

The objective of both the owner and employee is to maximize the firm's profit.

14

Incentivizing your employees will lead to better results than monitoring/threatening them.

15

Which of these is an example of incentives for your employees?

16

When employees get paid for their performance, they have an incentive to shirk.

17

When all parties gain, everybody will work to better the firm.

 
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