Which of the Following Is NOT One of the Four

question 55

Multiple Choice

Which of the following is NOT one of the four main types of inventory?

• A) raw material inventory
• B) work-in-process inventory
• C) maintenance/repair/operating supply inventory
• D) safety stock inventory
• E) finished-goods inventory

---

Definitions:

Public Utility

A company providing essential services such as water, electricity, and telecommunications to the public, often regulated by the government.

Unnatural Monopoly

A market structure where a single company dominates due to artificial barriers, such as regulations or patents, rather than market forces.

Perfectly Elastic

A situation in economic theory where a small change in price leads to an infinite change in quantity demanded or supplied.

Marginal Revenue

The additional income that is gained from selling one more unit of a product or service.