Estimating Practice Exam

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On publicly funded projects, what may contractors be required to do regarding certain businesses?

Award work to small businesses
Award work to women-owned and minority-owned businesses
Award work to local businesses
Award work to non-profit organizations

The correct answer is: Award work to women-owned and minority-owned businesses

Publicly funded projects often include requirements aimed at promoting equal opportunity and ensuring that historically underrepresented groups in the business community have access to contracting opportunities. As a result, contractors may be mandated to award a portion of their work to women-owned and minority-owned businesses. This requirement is intended to foster diversity, support local economies, and rectify past inequalities in business opportunities. The emphasis on women-owned and minority-owned businesses is particularly significant in contexts where legislation or policy goals aim to enhance inclusivity within the contracting process. Many programs and guidelines explicitly outline percentages or specific practices intended to ensure these groups are involved in public projects, thereby encouraging contractors to create partnerships or subcontracting arrangements that advance these goals. This contributes to broader efforts to promote social equity in economic development. Choices regarding small businesses, local businesses, or non-profit organizations, while important in various contracting contexts, do not capture the specific emphasis on promoting women-owned and minority-owned businesses characteristic of publicly funded projects.