The North American Industry Classification System (NAICS)codes:
A) will soon be replaced by the strategic industrial classification.
B) are published by the North American Treaty Alliance.
C) organize all industries in our economy into 20 broad sectors.
D) have no relevance for marketers outside the United States.
E) were developed in co-operation with Brazil and China.

Question

Quizplus · Accepted Answer

NAICS codes organize industries in our economy into 20 broad sectors, ranging from agriculture, forestry, fishing, and hunting to arts, entertainment, and recreation. This system is widely used by marketers, researchers, and government agencies in the United States to classify businesses and analyze market trends. It has no official relationship with Brazil or China, and there is no information about the development of a strategic industrial classification to replace NAICS codes.