Which of the Following Statements Is Correct

question 110

Multiple Choice

Which of the following statements is correct?

• A)Benchmarking is the process of calculating carrying cost,EOQ and other inventory management procedures and being able to compare it to others.
• B)Benchmarking is the process of identifying world-class processes or procedures currently being employed and building higher quality standards around these for your firm.
• C)Benchmarking is the when a firm evaluates all its supply chain management for higher quality and price.
• D)All of the above

---

Definitions:

Taxpayers' Burden

The financial obligation imposed on taxpaying citizens by government spending and debt, often reflected in the taxes they must pay.

Supply and Demand

Supply and Demand is a fundamental economic model that describes how prices and quantities are determined in a market system.

Public Aid

Financial assistance or support provided by government bodies to individuals, households, or organizations in need.

Imperfect Markets

Markets that do not meet the strict criteria of perfect competition, often featuring barriers to entry, information asymmetry, or monopoly power.