Public purchasers are required to award contracts to the lowest "responsible" and "responsive" bidder.This means the bidder is:
A) fully capable and willing to perform the work and submits a bid that conforms to the invitation for bid.
B) a business in the local community and submits the bid by the deadline.
C) a respected business in the local community and responds within 48 hours of all requests.
D) fully capable and willing to perform the work and responds to the bid in a timely manner.
E) willing to perform the work using some minority-owned sub-contractors and submits the bid by the deadline.
Correct Answer:
Verified
Q1: A fair price:
A)is the lowest price that
Q2: Identical pricing for bids can be discouraged
Q3: Most direct costs are:
A)overhead costs.
B)general and administrative
Q4: If the buyer wants to motivate the
Q5: Items for which prices may be fixed
Q6: Identical prices received from various sources should:
A)be
Q7: The Sherman Antitrust Act states that suppliers:
A)must
Q9: Forward buying:
A)offsets transactions to protect against price
Q10: The market approach to pricing:
A)means prices are
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