Question on: JAMB Commerce - 2019
The policy used when contracts are awarded as a result of tender is________
A
market penetration
B
market skimming
C
Bid Pricing
D
Product Line Pricing
Ask EduPadi AI for a detailed answer
Correct Option: C
The bid pricing is used mostly in government contracts. If the object is to obtain the contract, the cost will be considered mainly to determine the level of Minimum Price. A bid price is the highest price that a buyer is willing to pay for goods. It is usually referred to simply as the "bid". In bid and ask, the bid price stands in contrast to the asking price or "offer", and the difference between the two is called the bid-ask spread. Wikipedia
Add your answer
Please share this, thanks!
No responses