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Define Value Chain and Explain the Difference Between a Firm

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Define value chain and explain the difference between a firm value chain, an industry value chain, and a value web.


Definitions:

Adolescence

The transitional stage of physical and psychological development that generally occurs during the period from puberty to legal adulthood.

Peer Group

A social group whose members have interests, social positions, and age in common, playing a significant role in the socialization of individuals.

Congress

The legislative body of the United States government, consisting of two houses: the Senate and the House of Representatives, responsible for making federal laws.

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