The ________ Element of the Value Chain Relates to Activities

question 1

Multiple Choice

The ________ element of the value chain relates to activities such as receiving and warehousing.

• A) outbound logistics
• B) inbound logistics
• C) procurement
• D) infrastructure

---

Definitions:

WTO

World Trade Organization, an intergovernmental organization that regulates international trade by providing a framework for negotiating trade agreements and a dispute resolution process to enforce participants' adherence to trade agreements.

IMF

The International Monetary Fund, an international organization designed to ensure the stability of the international monetary system, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty.

Domestic Output

The total value of all goods and services produced within a country's borders in a specific time period, also known as Gross Domestic Product (GDP).

Arsenal of Democracy

A phrase used by President Franklin D. Roosevelt during World War II, describing the United States' role in supplying Allied nations with military materials.