Summarize the five basic types of contracts described in the FARs and, in your own words, list the four key factors to consider when selecting the type of contract

Procurement officers and the U.S. government must follow rules for contracting and procurement, referred to as Federal Acquisition Regulations (FARs). Review Selecting the Type of Contract and Types of Contracts. Summarize the five basic types of contracts described in the FARs and, in your own words, list the four key factors to consider when selecting the type of contract. For additional details, please refer to the Module One Activity Rubric document and the attached documents