$2$ points

According to the video "What is Supply Chain Management," which was shown during one of the fir lectures, what did the video illustrate about product cost using the example of a simple bottle of water?

Product cost is equivalent to the sum of all the material costs.

Product cost includes a wide range of factors beyond just material costs.

Product cost is significantly lower than material costs due to economies of scale.

Product cost is determined by the cost of the primary material, in this case, water.