ASCM626 FINAL EXAMINATIONAll exams must be posted in your Assignment Folders as one document. It is yourresponsibility to ensure that your exam is successfully submitted and can be readusing MS Word. The organization, depth, and clarity of responses will be importantgrading considerations. The Final examination is an individual assignment; not a groupassignment. Once you upload your completed exam to your Assignments Folder, do notmake any revisions. The exam is scaled to 100 points.Instructions:1. Insert your name here: __________________2. Final responses must be consolidated into one Word document.3. Essay responses are to be single-spaced.MULTIPLE CHOICE SECTION (20 points total). Highlight the best response.1. A _____ is an analytical tool that identifies the primary external forces that are causingprices to either increase or decrease.a.b.c.d.e.market analysistotal cost analysiscost analysismake-buy analysistarget price analysis2. In the _____, prices are set to achieve a high profit on each unit by selling to supplymanagers who are willing to pay a higher price because of a lack of sophistication orwho are willing to pay for products or services of perceived higher value.a.b.c.d.e.market skimming modelrevenue pricing modelpromotional pricing modelprice volume modelcompetition pricing model3. Negotiation _____ refers to the overall approach used to reach a mutually beneficialagreement with a supplier that holds different points of view from the buyer.a.b.c.d.e.tacticspositioningstrategyboulwarismNone of the above.4. The _____ presents pricing for individual products and services that is set to enhancethe sales of the overall product line rather to ensure the profitability of each product.a.b.c.d.e.price volume modelcompetition pricing modelmarket skimming modelpromotional pricing modelrevenue pricing model5. _____ essentially determines the nature of agreements that are enforceable and createlegal rights between the parties.a.b.c.d.e.Agency lawContract lawCivil lawLitigationNone of the above.