According to Porter's Model,one Should Add Cost to a Business

question 89

True/False

According to Porter's model,one should add cost to a business process if the change generates value greater than its cost.

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Definitions:

Economy

An organized system of production, distribution, and consumption of goods and services within a specific geographical area, involving various agents and market forces.

Circular-Flow Diagram

A model that illustrates the flow of goods and services and money between households and businesses in an economy.

Households

Economic units comprising all persons who occupy a housing unit, responsible for making consumption and investment decisions.

Demanders

Individuals or entities that express a willingness and ability to purchase goods or services at a given price.