Value-Chain Analysis Is Used to Identify Activities That Represent, or Can

question 64

Multiple Choice

Value-chain analysis is used to identify activities that represent, or can develop into, the core competencies of a business. Who introduced this concept?

• A) Ford
• B) Toyota
• C) Porter
• D) Smith
• E) Taylor

Evaluate the impact of specialization and trade on the production possibilities of countries.

Understand the concept and importance of homeostasis in regulating body conditions.

Recognize the body’s physiological responses to temperature changes.

Identify and differentiate between homeostatic and non-homeostatic behaviors.

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Definitions:

Labor

The exertion of both mental and physical capabilities towards the creation of products and services.

Marginal Revenue Product

Extra profits generated by incorporating another unit of a production element.

Worker

An individual engaged in a particular labor or job to earn a living, contributing to the production process.

MRP

Marginal Revenue Product, an economic theory stating the additional revenue generated from employing one more unit of a factor of production, like labor.