An efficient method of estimating area market potentials makes use of the ________, developed by the U.S. Bureau of the Census in conjunction with the Canadian and Mexican governments. It classifies all manufacturing into 20 major industry sectors and further breaks each sector into a six-digit, hierarchical structure.
A) Thomson Reuters Business Classification
B) Global Industrial Classification Standard
C) North American Product Classification System
D) North American Industry Classification System
E) Industry Classification Benchmark

Question

Quizplus · Accepted Answer

The North American Industry Classification System (NAICS) is a standardized classification system used by businesses and governments across North America to group businesses into industry sectors. It is developed by the U.S. Bureau of the Census in conjunction with the Canadian and Mexican governments, and allows for efficient estimation of area market potentials by breaking down all manufacturing into 20 major industry sectors and further into a six-digit, hierarchical structure. The other options listed are also classification systems, but they are not specifically designed for North America or manufacturing industries.

An Efficient Method of Estimating Area Market Potentials Makes Use