The total amount expended in order to own a product or use a service is:
A) Total cost of ownership
B) Economic order quantity
C) Supply chain management
D) Make to stock
E) Sunk cost

Question

Quizplus · Accepted Answer

Total cost of ownership takes into account all costs associated with owning a product or using a service, including not just the purchase price but also maintenance, repairs, and other expenses.

The Total Amount Expended in Order to Own a Product