Support Activities in a Value Chain May Include the Processes

question 26

True/False

Support activities in a value chain may include the processes of finding vendors,setting up contractual arrangements,and negotiating prices.

---

Definitions:

Lagging Technology

Technology that is behind the current standard or trend, often outdated or rendered obsolete by new innovations.

Inelastic Nature

A characteristic of a good or service whose demand does not significantly change with the price.

Agricultural Demand

The total demand for agricultural products, influenced by factors such as population growth, income levels, and dietary preferences.

Farm Employment

Jobs and labor related to agriculture, including positions in farming, crop cultivation, and animal husbandry.