For Businesses to Behave Ethically and Responsibly, Their Employees Need

question 59

Multiple Choice

For businesses to behave ethically and responsibly, their employees need

• A) higher salaries.
• B) good benefits.
• C) higher education.
• D) strong moral guidance from the leadership.

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Definitions:

Carrying Cost

The total expense of holding a particular asset over time, including storage, insurance, and taxes, but excluding buying cost.

Order Cost

Expenses incurred in placing and receiving orders from suppliers, including costs related to processing, shipping, and handling.

Economic Order Quantity

The ideal order size to minimize total inventory costs including ordering, carrying, and stockout costs.

Variable Cost

A cost that varies with the level of output or production activity, increasing as production increases and decreasing as production decreases.