A Perspective in Which Business Is Seen as a Chain

question 53

Multiple Choice

A perspective in which business is seen as a chain of activities that transforms inputs into outputs that customers value is called:

• A) Value chain
• B) Value chain analysis
• C) Resource-base
• D) Process division

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Definitions:

Imported Oil

Oil that is produced outside of one's home country and brought in through international trade agreements for consumption or use.

Government Spending

Expenditures by government agencies on goods and services that influence the economy.

Supply-Side Economics

An economic theory that suggests economic growth can be most effectively created by lowering taxes and decreasing regulation, to increase production.

Increasing Productive Capacity

The process or actions taken to enhance the capability of a company or economy to produce goods and services.