______________can be defined as the determination of that course of action or combination of alternatives that yields either the lowest cost or the highest profit.
Answer(s): D
A bond that guarantees the bidder will enter into a contract on the basis of his/her bid is referred to as:
Answer(s): C
An effort by a prime contractor to reduce the price quoted by a vendor, by providing the bid price to other vendors in an attempt to get the other vendors to underbid the original price quoted is referred to as:
What is executed in connection with a contract and secures the performance and fulfillment of all the undertakings, covenants, terms, conditions and agreements contained in the contract?
Answer(s): B
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