A Value Chain Is the Sequence of Business Processes in Which

question 18

Multiple Choice

A value chain is the sequence of business processes in which:

• A) Costs are determined with activity-based principles
• B) Value is added to a product or service
• C) All non-value-added activities are eliminated
• D) Managers determine prices

---

Definitions:

Discretionary Policy

Economic or fiscal policy based on judgment and decision-making in response to changing economic conditions, rather than set by predetermined rules.

National Saving

The total amount of savings generated within a country, including both private savings by households and public savings by the government.

Interest Rates

The cost of borrowing money or the return on investment for savings, typically expressed as a percentage of the principal amount.

Discretionary Fiscal Policy

Economic strategies implemented by the government through changes in spending levels and tax rates to influence economic conditions.