Commerce WAEC

The policy used when contracts are awarded as a result of tender is?

A. market penetration
B. market skimming
C. Bid Pricing
D. Product Line Pricing

Correct Answer: Option C

C. Bid Pricing

Explanation

Bid pricing is used mostly in government contracts. If the object is to obtain the contract, cost will be considered mainly to determine the level of Minimum Price.

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