A Government buyer chooses a product with a slightly higher price because it has substantially better lifecycle performa...
Type: MCQ • Marks: 1
A Government buyer chooses a product with a slightly higher price because it has substantially better lifecycle performance and meets the stated requirement more effectively Which principle may justify this approach?
Options
A. Value for money
B. Lowest price at any cost
C. Personal preference
D. Financial secrecy
Explanation
Value for money considers the overall economic advantage, including quality, performance and lifecycle considerations where relevant—not merely initial price.
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UPSC Principal & Vice PrincipalManagement Finance Administration
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