Which pricing strategy was specifically mandated by the Federal Acquisition Streamlining Act of 1994 to be used 'to the maximum extent practicable' for commercial items?

In the complex world of government procurement and contracting, pricing strategies play a crucial role in winning bids and maintaining public trust. Different administrations and agencies employ various approaches to maximize value while managing taxpayer resources responsibly. Test your knowledge of how pricing mechanisms are used in government contracts and public sector purchasing decisions.

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Cost-plus pricing (actual costs plus fixed percentage)
Fixed-price contracts with economic price adjustment
Time and materials pricing (hourly rates plus materials)
Value-based pricing (based on perceived value to constituents)