Spot buying refers to the purchasing of goods and services according to a schedule,usually at prevailing market prices that are determined by supply and demand.

Question

Quizplus · Accepted Answer

Spot buying refers to the purchasing of goods and services on an immediate or ad-hoc basis, without any pre-planning or schedule. The price is usually negotiated at the time of purchase and may not necessarily reflect prevailing market prices.

Spot Buying Refers to the Purchasing of Goods and Services