Mastering the Basics of Commodity Procurement
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Questions and Answers

Which of the following is NOT an example of a hard commodity?

  • Coal
  • Gold
  • Lithium
  • Coffee beans (correct)

    • What is the difference between differentiated and undifferentiated products?

  • Differentiated products have a unique attribute while undifferentiated products are standardised (correct)
  • Differentiated products are cheaper than undifferentiated products
  • Differentiated products are commodities while undifferentiated products are not
  • Differentiated products are always raw materials

    • What determines the pricing of commodities?

  • The availability of substitutes
  • The government's export and import restrictions
  • Demand and supply (correct)
  • The product manufacturer's competitive advantage

    • What effect does a good harvest have on commodity prices?

    <p>Prices fall</p> Signup and view all the answers

    What impact does disposable income have on commodity demand?

    <p>Higher disposable income leads to increased demand</p> Signup and view all the answers

    What is market volatility?

    <p>Changes in variables that affect commodity prices</p> Signup and view all the answers

    What is the role of specialist brokers in commodity trading?

    <p>Facilitating advanced trading options and speculating on prices</p> Signup and view all the answers

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