The Economic Order Quantity Model

question 26

Multiple Choice

The economic order quantity model:

• A) determines ordering costs.
• B) determines total costs involved in holding inventory.
• C) is a mathematical tool for determining the order quantity that minimises the costs of ordering and holding inventory.
• D) is a mathematical tool for determining shortage and ordering costs.

---

Definitions:

Photosystem I

A component of the photosynthetic system found in the chloroplasts of plants and algae that captures light energy and converts it into chemical energy during the process of photosynthesis.

Chlorophyll

A green pigment found in the chloroplasts of plants, algae, and some bacteria, crucial for photosynthesis as it absorbs light energy to produce sugar.

Absorption Peak

The wavelength or region of the electromagnetic spectrum where a substance absorbs the most light, often used in spectroscopy for identification.

Thylakoid Membranes

Membrane-bound compartments inside chloroplasts and cyanobacteria, site of the light-dependent reactions of photosynthesis.