CIPS Exam L4M4 Topic 3 Question 24 Discussion

Actual exam question for CIPS's L4M4 exam

Question #: 24
Topic #: 3

[All L4M4 Questions]

If a commodity index shows that the price of a commodity is continually rising, what does this indicate about the market?

Athat there is little demand in the marketplace

Bdemand is exceeding supply

Cthere is a threat of substitution

Dthe marketplace is a monopoly

Show Suggested Answer

Suggested Answer: D

you would use a restricted approach when interest is likely to be high. The buyer needs a method of de-selecting unsuitable bidders and creating a shortlist of acceptable organisations.

For complex requirements you could use both an open or restrictive tender- the difference between the approaches is about how many bids you're likely to get rather than the complexity of it.

by Stevie at Sep 17, 2024, 04:22 AM

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14 days ago

I think if the price of a commodity is rising, it means demand is exceeding supply.

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