The Objects We Use as Money Today Include

question 324

Multiple Choice

The objects we use as money today include

• A)currency inside banks and bank deposits.
• B)currency outside the banks and bank deposits.
• C)only currency outside the banks.
• D)only deposits inside the banks.
• E)credit cards and debit cards.

---

Definitions:

Setup Cost

The cost incurred to prepare equipment or processes for production.

Holding Cost

The expenses incurred by storing unsold goods, encompassing warehousing, insurance, and spoilage costs.

EOQ Model

Economic Order Quantity model determines the optimal order quantity that minimizes the total inventory costs, including ordering and holding costs.

Order Cost

Expenses associated with placing and processing orders in a supply chain, including costs related to purchasing, ordering, shipping, and receiving goods.