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CIPS Exam L4M2 Topic 3 Question 36 Discussion

Actual exam question for CIPS's L4M2 exam
Question #: 36
Topic #: 3
[All L4M2 Questions]

Which of the following events would increase the number of suppliers in a particular market?

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Suggested Answer: C

The buying organisation is keen to encourage innovation so they should use the outcome or output based specification. In an outcome-based specification, umbrella statements like 'good quality', 'ambient temperature', 'convenient way' are often used. This may confuse the suppliers, and it's hard to check the solution that supplier offers. On the other hand, ouput-based specifications often include measurable requirements. For example, a specification for air conditioning system states that the system should maintain the room temperature at 19-24 degrees Celsius. Therefore, output specification is more appropriate in this case.


LO 3, AC 3.1

by Janine at Jun 02, 2024, 01:12 PM

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Shaun
1 months ago
Haha, Noah, you had me worried there for a second! At least you're keeping us on our toes.
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Noah
1 months ago
Hold up, does the question say 'increase the number of suppliers'? I was thinking it said 'decrease the number of suppliers'. Oops, my bad!
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Clarinda
26 days ago
D) De-regulation of a previously government-run industry
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Ashton
29 days ago
B) High and increasing levels of investment required to enter the market
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Kyoko
1 months ago
A) Introduction of minimum wage regulations
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Melina
2 months ago
Hmm, I'm going to have to go with D on this one. The other options just seem like they would have the opposite effect.
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Owen
11 days ago
Agreed, it would lower barriers to entry for new suppliers.
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Freeman
13 days ago
That makes sense, less regulation would likely attract more suppliers.
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Carmela
1 months ago
D) De-regulation of a previously government-run industry
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Inocencia
2 months ago
I'm not sure why anyone would think a minimum wage or a requirement for large companies would increase the number of suppliers. That just doesn't make sense.
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Mozell
B) High and increasing levels of investment required to enter the market
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Lanie
1 days ago
I agree, de-regulation would definitely attract more suppliers.
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Matthew
9 days ago
D) De-regulation of a previously government-run industry
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Vernell
1 months ago
A) Introduction of minimum wage regulations
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Minna
2 months ago
But what about option A, introduction of minimum wage regulations? Wouldn't that also attract more suppliers by ensuring fair wages for workers?
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Lashon
2 months ago
I agree with Jesusita. When a previously government-run industry is de-regulated, it allows more companies to enter the market, thus increasing the number of suppliers.
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Katina
2 months ago
Option D is clearly the correct answer. De-regulation would encourage more companies to enter the market, thereby increasing the number of suppliers.
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Tomas
1 months ago
Competition is always good for consumers, it leads to better prices and choices.
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Justine
1 months ago
Exactly, it would create a more competitive market environment.
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Gerardo
2 months ago
I agree, de-regulation would remove barriers to entry for new suppliers.
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Enola
2 months ago
Option D is clearly the correct answer. De-regulation would encourage more companies to enter the market, thereby increasing the number of suppliers.
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Jesusita
2 months ago
I think option D, de-regulation of a previously government-run industry, would increase the number of suppliers.
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