The Activities in the Value Chain, the Value Activities, Are

question 87

True/False

The activities in the value chain, the value activities, are business processes that convert inputs to valued outputs.

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Definitions:

Patent

A form of intellectual property that gives its owner the legal right to exclude others from making, using, or selling an invention for a certain number of years.

Pigeon Pies

Traditional British pies made with pigeon meat, often served as a game dish.

Output

The aggregate production of merchandise or services by a corporation, sector, or economy.

Profit

The financial gain obtained when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.