Final answer:
Multiple vendors can offer the same product, but businesses consider factors other than just price when choosing a vendor.
Step-by-step explanation:
In the business world, there are often products that are bought from more than 1 vendor. This is known as sourcing from multiple vendors. Sourcing from multiple vendors can be beneficial as it allows businesses to compare prices and choose the vendor that offers the best price or deal. However, the decision on which vendor to choose depends on various factors such as the quality of the product, reliability of the vendor, and other terms and conditions.
In terms of frequency, businesses may not always choose the lowest priced vendor. While price is an important factor, it is not the only factor considered. Factors such as quality, delivery time, customer service, and reputation of the vendor also play a role in the decision-making process. Thus, businesses aim to strike a balance between price and other factors to find the most suitable vendor.