Which of the Following Developments Contributed Most to the Industrial

question 40

Multiple Choice

Which of the following developments contributed most to the Industrial Revolution?

• A)new inventions encouraged by competition
• B)the growth of state power
• C)the development of new nations
• D)development of new foods
• E)a close relationship with nature

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Definitions:

Economic Order Quantity (EOQ)

A formula used by businesses to determine the optimal order quantity to minimize total inventory costs.

Carrying Costs

The total cost of holding inventory, which includes warehousing, insurance, spoilage, and opportunity costs.

Ordering Costs

Expenses associated with placing orders for inventory, including administrative expenses, delivery charges, and any other costs related to buying goods or services.

Carrying Costs

Carrying costs are the total expenses associated with holding or storing inventories over a certain period.