The strategic sourcing matrix: a. is use by few companies b. included categories of bottleneck, expensive and leverage items o c. a company classify its purchases by considering complexity of the market and importance of a category d. only b and c e. all of the above f. none of the above according to the strategic sourcing matrix, complexity of the market focus on a. how much you spend on an item d b. how many buyers are assigned to a category c. external market factors like risk d. the importance of the category e. all of the above f. none of the above 10 the use of a purchasing consortium is most appropriate for: a. routine items b. leverage items c. bottleneck items d. strategic items e. it is never appropriate-it is a violation of competition

1   all nations face the problem of scarcity because there are limited resources and unlimited wants. nations do not have enough factors of production to produce everything that their population wants. entrepreneurial resources initiate businesses to make new goods and services; labor resources produce goods and services.

2 there are four factors of production: natural resources, labor resources, capital resources, and entrepreneurial resources. natural resources are raw materials from nature that are used to produce goods. trees, water, and grains are natural resources. some natural resources, such as wheat and cattle, are renewable

3 wants

things that you do not need to have in order to survive, but would like to have

needs

things that you must have in order to survive

goods

physical products

services

tasks that a business perform for customers

resources

items that people can use to make or obtain what they need or want

determine

to settle or decide by choice of alternatives or possiblities

4 i really dont know

the answer would be price fixing, hope it