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Procurement Thresholds

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Questions and Answers

What does the term 'procurement threshold' refer to?

The maximum quantity of a product to be bought

The minimum quantity of a product to be bought

The maximum price for a product (correct)

The minimum price for a product

Which of the following is closely related to 'procurement threshold'?

Product quality

Supplier selection (correct)

Market research

Customer satisfaction

What is the main purpose of a 'procurement threshold'?

To ensure product quality

To increase sales

To limit the quantity of a product

To control spending (correct)

Study Notes

What does the term 'procurement threshold' refer to? Which of the following is closely related to 'procurement threshold'? What is the main purpose of a 'procurement threshold'?

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Test your knowledge on procurement thresholds with this quiz! Learn what the term 'procurement threshold' means, discover its close relationship to another concept, and understand the main purpose behind setting a 'procurement threshold'.