Customer Service Falls Under the Category of Supporting Activities in a Value

question 19

True/False

Customer service falls under the category of supporting activities in a value chain.

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Definitions:

Equilibrium Price

The price at which the quantity of a good demanded equals the quantity supplied, resulting in market stability.

World Series

The annual championship series of Major League Baseball in North America, contested since 1903 between the American League and National League champions.

Producer Surplus

The difference between the amount producers are willing to accept for a good or service and the actual amount they receive, due to market price.

Firm's Willingness

A company's propensity to engage in certain actions based on its economic interests and goals.