Achieving value for money can often be described as the three Es? What are these?

• A.Ethics, Environment, Economy
• B.Economy, Efficiency, Environment
• C.Efficiency, Economy, Ethics
• D.Effectiveness, Efficiency, Economy

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Cigarettes and alcohol are often described as having an 'inelastic price'. What does this mean?

• A.Changes in price will greatly affect how much of the item is bought
• B.Changes in price will not affect how much of the item is bought
• C.The product is subject to high rates of tax
• D.The product is subject to age restrictions

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What is collaborative inertia?

• A.the concept that the value and performance of two companies combined will be greater than the sum of the separate individual parts
• B.A situation when the apparent output from collaboration is considerably less than expected
• C.When a partnership is unable to create new ideas
• D.Where a third party is invited to join a partnership.

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Which of the following are possible drivers for partnership sourcing? Select THREE.

• A.The protection of intellectual property rights
• B.The marketplace has become more volatile
• C.Working together will create synergies
• D.The need to improve performance to satisfy the end customer

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Which of the following are Intellectual Property Rights that you would you encounter in procurement and supply contracts? Select THREE.

• A.Method Statements
• B.Risk Assessments
• C.Patents
• D.Copywrite
• E.Trademark

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