The SIC Codes

question 38

Multiple Choice

The SIC codes:

• A) Establishes a common code between the United States, Canada and Mexico
• B) Has organized the nation's economy into 5 divisions since the 1930s
• C) Were developed by the U.S. government to collect and disseminate meaningful information on different sectors of the economy
• D) Is compatible with ISIC
• E) Has been designed to include industries in services and emerging technology fields

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Definitions:

Buying Decision

The process by which a consumer or business evaluates and chooses to purchase a product or service.

Correct Buying Decision

An informed and well-considered decision made by a buyer that optimally fulfills their needs, preferences, and budget.

Product in Stock

Refers to items or merchandise that are available for immediate sale and delivery, stored in a vendor's inventory.

Buying Decision

The conclusion reached by consumers after considering the benefits and drawbacks of various options, ultimately leading to a purchase.