Ways in Which Consumers Affect American Business Include All the Following

question 21

Multiple Choice

Ways in which consumers affect American business include all the following except

• A) purchasing goods and services.
• B) providing necessary business capital.
• C) providing the labor necessary for production.
• D) providing the resources necessary for production.
• E) taxing goods and services.

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Definitions:

Ordering Cost

Expenses incurred in placing and processing orders for products or materials, including administrative costs and the cost of receiving and inspecting the items.

Carrying Cost

The total cost of holding inventory, including storage costs, insurance, and depreciation, among others.

Economic Order Quantity Model

A formula used in inventory management to determine the optimal order size that minimizes total inventory costs.

Holding Cost

The expenses associated with keeping inventory in stock, such as storage, insurance, and spoilage costs.