In a Value Chain, Service Involves _____

question 96

Multiple Choice

In a value chain, service involves _____.

• A)processing raw materials into finished goods
• B)identifying customer needs and generating sales
• C)activities to support customers after the sale of products
• D)tasks associated with receiving, storing, and disseminating incoming goods

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Definitions:

Surplus

The amount by which the quantity of something exceeds its demand, often referring to unsold goods or surplus budget in economics.

Quantity Demanded

The sum total of a particular good or service that consumers are inclined and financially equipped to acquire at a determined price range within a given period.

Quantity Supplied

The volume of a commodity or service that producers are prepared and able to supply at a specified price within a certain timeframe.

Equilibrium Price

The price point at which the supply of an item matches the demand for it, resulting in a stable market situation without excess or shortage.