Which of the Following Does NOT Describe the North American

question 99

Multiple Choice

Which of the following does NOT describe the North American Industry Classification System (NAICS) ?

• A) groups the economy into 20 broad classifications
• B) industries are classified by six-digit codes
• C) allows for common language to be used for easier comparisons
• D) provide for "new" industries such as high tech and services
• E) only contains business from Canada and the United States of America

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Definitions:

Idea Generation

The process of creating, developing, and communicating new concepts or solutions that have potential value.

Marketing Strategy

A long-term plan designed by a business to achieve specific marketing-related goals and objectives through a thorough understanding of the market and customers.

Product Concepts

Theories and practices concerning how products are conceived, designed, produced, and marketed to meet consumer needs and expectations.

Design Thinking

A methodology used for solving complex problems and finding desirable solutions for clients. It draws upon logic, imagination, intuition, and systemic reasoning, to explore possibilities of what could be and to create desired outcomes that benefit the end user.