The Last Element in the Value Chain Is Margin, Which

question 29

True/False

The last element in the value chain is margin, which refers to profit made by the firm.

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Definitions:

Demand Curve

It represents the relationship between the price of a good or service and the quantity demanded by consumers over a certain period of time.

Quantity Demanded

Refers to the total amount of a good or service that consumers are willing and able to purchase at a specific price.

Price

The amount of funds needed to purchase a commodity, service, or asset.

Demand Curve

A graph showing the relationship between the price of a good and the quantity demanded by consumers.