Explanation

All of the ones shown, except acting as a means of exchange, which is one of the parts of a defini-tion of money.

Explanation

Key Performance Indicators should be specific, measurable, achievable, realistic and time-bound; or words very similar to those, meaning broadly the same.

Explanation

Selective, restricted and limited are all essentially the same idea: not open tendering, but using some kind of prequalification approach.

Explanation

Is it fit for purpose? Can it do the job required? This is one definition of quality.

The nearest answer to this would have been 'fitness for sale' perhaps, but this has no legal or such a strong traditional standing.

Explanation

A simple solution is to 'recuse' yourself from anything to do with this procurement. That way, nei-ther you, your employer or your sister can be accused of malpractice.

Disbarring your sister's employer punishes them simply because both they and your firm employed high-quality people. :)

Sometimes knowing you are honest is not enough: sometimes you have to demonstrate that.

So the only answer which makes sense is the correct one, as above.

Explanation

Output per unit of input resource.

Efficiency is, in a sense, seeking to get as much out of a system, while putting in as little as possible.

Explanation

Key performance indicator, designed to monitor a small number of critically-important aspects of supplier performance, indicated within a contract or a service level agreement as part of a contract.