The ________ Is the Series of Work Actions That Add

question 99

Multiple Choice

The ________ is the series of work actions that add value to a product as it is being transformed from inputs to finished product.

• A)supply chain
• B)value chain
• C)output chain
• D)input chain

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Definitions:

Average Propensity

The average tendency of an entity (such as a household) to spend a portion of income; can pertain to consumption or saving.

Disposable Income

Disposable income is the portion of an individual's or household's earnings left over for savings and expenditures after paying off income taxes.

Autonomous C

Autonomous consumption, the level of spending not influenced by current levels of income.

Induced C

Induced consumption, which refers to the spending by households that varies with income levels.