By the Time Jobs and Wozniak Had Moved Out of the Garage

question 67

Multiple Choice

By the time Jobs and Wozniak had moved out of the garage and into their first production facility, the business would have been labelled as a(n) :

• A)high-potential venture.
• B)attractive small organisation.
• C)micro-business.
• D)lifestyle business.

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Definitions:

Cycle Inventory

Inventory that companies maintain to facilitate production in batches or cycles, as opposed to continuous production.

Quantity Discounts

Price reductions offered to customers purchasing in large volumes, incentivizing bulk purchases and often used to reduce inventory holding costs.

Cycle Inventory

Refers to the portion of inventory available or planned to be available in a warehouse or distribution center for fulfilling demand during a specific period, without needing to restock.

Supply Chain

The interconnected network of entities involved in the production, handling, and distribution of goods or services from manufacturers to consumers.