Which of the Following Is a Service Business Within the Industrial

question 99

Multiple Choice

Which of the following is a service business within the industrial market?

• A) construction
• B) mining
• C) insurance
• D) government
• E) farming

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Definitions:

Carrying Cost

The total cost of holding a particular asset on a company’s books, which can include storage, interest, depreciation, and insurance.

Distilled Water

Distilled water is water that has been purified through distillation, a process that involves boiling the water and then condensing the steam back into liquid.

EOQ

Economic Order Quantity (EOQ) is a decision tool used in inventory management to determine the optimal order size that minimizes the sum of ordering and holding costs.

Inventory Carrying Costs

The total costs associated with holding and storing unsold goods, including storage, insurance, and obsolescence.