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Prepare for the CIPS Procurement and Supply Environments exam with our extensive collection of questions and answers. These practice Q&A are updated according to the latest syllabus, providing you with the tools needed to review and test your knowledge.
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The questions for L3M1 were last updated on Dec 18, 2024.
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Measurement of an organisation's carbon footprint uses which gas as a standard measure?
A well-known measure of carbon footprint.
Procurement professionals are encouraged to incorporate environmentally-friendly thinking into their workplace activities and decision-making.
Because of the need for frequent or semi-frequent uses of competition, public sector buyers are less likely to find themselves in a close partnership arrangement with a supplier than private sector buy-ers. True or false?
This is true.
Which of the following would not be part of the not-for-profit sector?
A local independent supermarket would be a private sector organisation - that is one intended to make a profit. The others suggested here would all be not-for-profit.
Public sector organisations, although not created to make a profit, are generally referred to as 'public sector' - often funded from taxation - with 'not-for-profit' often being funded from members, do-nors, or other voluntary sources.
Measurement of an organisation's carbon footprint uses which gas as a standard measure?
CO2 is the correct answer - carbon dioxide.
CO is carbon monoxide; H20 is water (or steam or ice) and CO3 is carbon trioxide.
Thinking about supply and demand, there is one price at which producers wish to sell the same amount as customers wish to buy: in other words, the market 'clears', without either a surplus of supply or unsatisfied demand. This price is called the - - - - - - - - price.
Equilibrium price as demand and supply are perfectly balanced.
Equivalium is a made-up word. When I was studying for my MCIPS back in the 1980's it was a re-quirement to undertake a research study. My research was into the monopolistic supply of valium and librium to the UK's National Health Service by a Swiss company called Hofmann la Roche. That research endeared me neither to branded drugs, nor, possibly unfairly, to multinationals.
The likely choice of answers for people who don't know the correct answer is probably between 'equilibrium' and 'clearing'. Clearing would be a logical choice, but it's not the one your assessor re-quires.
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