In ABC Analysis,inventory Items Are Classified by Unit Cost,with Expensive

question 31

True/False

In ABC analysis,inventory items are classified by unit cost,with expensive items being classified as A items,and inexpensive items being classified as C items.

---

Definitions:

Political Action

Activities undertaken by individuals or groups to influence or participate in politics or public policy.

Economics of Collective Decision Making

The study of how decisions are made in groups, societies, or organizations where individual choices affect the collective.

Public Choice Analysis

A branch of economics that studies the decision-making processes of government bodies as well as the behavior of voters, politicians, and government officials.

James Buchanan

An American economist known for his work on public choice theory, which explains how political decision-making processes affect economic policies, and the recipient of the Nobel Memorial Prize in Economic Sciences in 1986.