Which of the Following Is an Example of a Primary

question 49

Multiple Choice

Which of the following is an example of a primary activity in a firm's value chain?

• A) information systems
• B) research and development
• C) logistics
• D) human relations

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Definitions:

Willingness to Pay

The maximum amount an individual is prepared to spend on a good or service, reflecting the value they attribute to it.

Market Demand Curve

A graphical representation showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at various prices.

Public Good

A provision of goods or services to everyone in society for free, by either governmental bodies or private entities, with no profit motive.

Private Goods

Goods that are excludable and rivalrous in consumption, meaning their use by one person diminishes availability for others and access can be restricted.