When a Textile Company Keeps Track of Its Inventory Using

question 138

Multiple Choice

When a textile company keeps track of its inventory using a computer and its competitor uses a pad of paper and a pencil, they are both answering the ________ part of one of the two big economic questions.

• A) "what"
• B) "how"
• C) "for whom"
• D) "where"

---

Definitions:

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance.

Utility

The total satisfaction or value derived from consuming goods or services, often considered in economic decisions and analyses.

Standard Deviation

A statistical measure that quantifies the amount of variation or dispersion of a set of data values.

Training Program

A structured plan designed to increase the knowledge, skills, and capabilities of individuals or groups.