ECONOMICS
MONEY
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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additional goods may be rushed to the scene faster.
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neighbors will ostracize fellow community members for raising prices during the crisis.
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unlicensed contractors will approach homeowners in need of repairs.
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officials confiscate good brought in from outside of the community.
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Detailed explanation-1: -(a) Price Variation Clause can be provided only in long-term contracts, where the delivery period extends beyond 18 months. In short-term contracts, firm and fixed prices should be provided for.
Detailed explanation-2: -As opposed to the request of tender or RFT, a tender is a document which is submitted by the supplier in response to the request for tender or RFT. Which is why tender is basically an offer to supply goods and services to the buyer based on their requirements.
Detailed explanation-3: -Purchase of goods upto the value of Rs. 25, 000 (Rupees twenty five thousand) only on each occasion may be made without inviting quotations or bids on the basis of a certificate to be recorded by the competent authority in the following format.
Detailed explanation-4: -Public expenditure is spending made by the government of a country on collective needs and wants, such as pension, provisions, security, infrastructure, etc. Until the 19th century, public expenditure was limited as laissez faire philosophies believed that money left in private hands could bring better returns.