Regardless of the Industry, the Most Valuable Links on a Firm's

question 3

Multiple Choice

Regardless of the industry, the most valuable links on a firm's value chain will likely be

• A) financial managers.
• B) technology experts.
• C) people who have knowledge of customers.
• D) research and development specialists.

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Definitions:

Artificially Scarce Good

A product or service whose availability is restricted through patents, copyrights, or other legal means, rather than by the limits of physical scarcity.

Pigouvian Tax

A tax imposed on activities that generate negative externalities, intended to correct an inefficient market outcome by internalizing the external costs.

Efficient Level

A point at which resources are allocated in the most effective manner, maximizing output without wasting resources.

Excludable

A characteristic of a good or service that allows its owner to prevent others from using it without permission.