A Supply Chain Is Broader in Scope Than the Value

question 78

True/False

A supply chain is broader in scope than the value chain, and encompasses all pre- and post-production activity.

---

Definitions:

Consumption

The spending on goods and services by households or individuals.

Marginal Utility

The supplementary satisfaction or benefit obtained from using an additional unit of a product or service.

Utility Maximization

An economic principle that suggests consumers aim to get the greatest satisfaction possible from their available resources.

Consumer's First

A philosophy or policy placing consumer interests and satisfaction at the forefront of business decision-making.