Partnership relationships are long-term relationships without a defined end period. Is this statement TRUE?

• A.No- partnerships should have end dates so both parties have a way out if things don't work out
• B.No- partnerships have end dates as they are contractual relationships
• C.Yes-partnerships do not have end dates because they involve significant investment
• D.Yes- partnerships do not have end dates because there is never a contract involved

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Which of the following are valid strategies for dealing with conflict? Select THREE

• A.Competing
• B.Collecting
• C.Contesting
• D.Compromising
• E.Collaborating

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Which of the following are value-added benefits? Select THREE that apply.

• A.Free training for all staff
• B.Storage of raw materials
• C.Customer service hotline
• D.Expert consulting services
• E.Paperwork between departments
• F.Quality control team

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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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The Kraljic Model is most useful for which aspect of procurement?

• A.category management
• B.cost analysis
• C.risk management
• D.cost reduction

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