Question: 1. What do you understand by the concept total cost of ownership? As a buyer for a company how do you think this will

1. What do you understand by the concept "total cost of ownership"? As a buyer for a company how do you think this will help you make proper buying decision(s)? 2. Jeff intends to go out to purchase machinery for his farm and he has reached out to you as the company's buyer to assist with the procurement. What do you think will be the components of the total cost for this farm machinery? 3. What is the difference between price and cost analysis?

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