Each Value Chain Is Supported by One or More Business

question 18

True/False

Each value chain is supported by one or more business processes.

---

Definitions:

Labor

The work performed by humans which is often measured in terms of hours or productivity and is a fundamental factor of production.

Market Wage

The prevailing pay rate for work of a given nature in a specific market or industry.

Labor Supply

The total hours that workers are willing and able to work in a given period, often influenced by factors like wages, working conditions, and social norms.

Capital

Financial assets or the financial value of assets, such as cash and goods, used to generate wealth through investment or production.