Bargaining and Negotiations in Purchasing and Supply Chain Management MCQs

Bargaining and Negotiations in Purchasing and Supply Chain Management MCQs

Our team has conducted extensive research to compile a set of Bargaining and Negotiations in Purchasing and Supply Chain Management MCQs. We encourage you to test your Bargaining and Negotiations in Purchasing and Supply Chain Management knowledge by answering these multiple-choice questions provided below.
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1: Constant sum is a situation where payoffs add up to a constant figure for any outcome. One player’s payoff is the same for any outcome.

A.   True

B.   False

2: Distributive bargaining is the total gain from the situation that must be divided between the three parties involved, and each party usually wants as much as it can get.

A.   True

B.   False

3: Game theory is a science of strategy, or near optimal decision-making of independent and competing_______ in a strategic setting.

A.   Decision-makers

B.   Wavering

C.   Political leaders

D.   None of these

4: Three parties with areas of mutual concern and complementary interests. Is known as integration bargaining .

A.   True

B.   False

5: ____ is the process by which a buyer and seller reach an agreement on the terms and conditions regarding the purchase of materials, equipment, or goods.

A.   Negotiation

B.   Pareto optimal

C.   Personal selling

D.   Varying sum

6: ____ is an economic situation when the circumstances of one individual cannot be made better without making the situation worse for another individual.

A.   Negotiation

B.   Pareto optimal

C.   Personal selling

D.   Varying sum

7: ______ is the sales personnel promoting the product through their attitude, appearance, and specialist product knowledge; especially important when interviewing for a job.

A.   Negotiation

B.   Pareto optimal

C.   Personal selling

D.   Varying sum

8: ______ is the profits (and/or losses) of the respective bargainers, when added together, need not always equal the same fixed amount.

A.   Negotiation

B.   Pareto optimal

C.   Personal selling

D.   Varying sum

9: The profits (and/or losses) of the respective bargainers always sum to the same fixed amount is known as ?

A.   Zero-sum bargaining

B.   Bills of lading

C.   Somme

D.   None of these