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In legal parlance, in discussing / negotiating contract terms, something which is 'less than an offer', might be:
'Invitation to treat' is less than an offer ie it is not capable of being accepted in any contractual sense.
A common example given of an invitation to treat are goods on display in a shop window.
A bottle of sparkling water sells for $1. The variable cost is 50 cents. Fixed costs for the business are $100,000 (one hundred thousand dollars). How many bottles of water must be sold for the business to reach breakeven point?
The 'contribution' (selling price minus variable cost) for each bottle is 50 cents. Divide the fixed costs by the contribution (100,000 / 0.5) = 200,000
If your textbook or tutor has not covered this type of calculation, don't worry; it is a difficult ques-tion and is unlikely to be a significant issue in the CIPS examination.
What is the name given to costs which do not vary as activity levels in a business increase or de-crease?
The answer is fixed costs. Their counterpart are variable costs, which do vary as business activity increases or decreases.
Direct and indirect costs are a different method of categorizing costs within an organisation.
A common term for the win-lose style of negotiations is:
Distributive: at the other end of the spectrum from 'collaborative'.
A situation where suggestions made, often by a bidder, unnecessarily widen the scope of the requirement.
Specification creep - where the requirement becomes more complex or sophisticated than originally thought necessary for the buying organisation's purposes. Naturally, this can be expected to increase cost to the buying organisation.
