Primary Activities of a Firm's Value Chain Refers to

question 7

Multiple Choice

 Primary activities of a firm's value chain refers to

• A) the activities completed to improve a firm's product and the processes used to manufacture it.
• B) the activities involved with recruiting, hiring, training, developing, and compensating all personnel.
• C) the activities such as general management, planning, finance, accounting, legal support, and governmental relations.
• D) the activities involved in the physical creation of a product and its sale and transfer to the buyer.

---

Definitions:

Equilibrium Price

The price at which the quantity of goods demanded equals the quantity of goods supplied, leading to market stability.

Ineffective

Not producing the intended or desired effect.

Economic Cost

The total cost of choosing one action over another, including both direct costs and any lost opportunity costs.

Utility

The satisfaction or benefit derived from consuming goods and services.