Which of the Following Statements Is True of a Value

question 1

Multiple Choice

Which of the following statements is true of a value chain

• A) The pre- and postservice framework of a value chain emphasizes that service is a critical component of traditional manufacturing processes.
• B) The input-output framework of a value chain suggests that the value chain begins with inputs from customers.
• C) A value chain solely focuses on the operations function of an organization.
• D) A value chain is narrower in scope than a supply chain.

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Definitions:

Wage Determination

The process through which wages and salaries are set based on factors such as supply and demand, bargaining power, and institutional frameworks.

Labor Supply

Labor supply represents the total hours that workers are willing and able to work at a given wage rate, across different employment sectors.

Administrative Fee

A charge by an institution or business for administrative costs, often added to transactions, memberships, or services.

Monopolized Labor Market

A labor market where a single employer significantly controls the market for jobs and wages.