A Non-Value-Adding Activity Is One That Adds Cost to a Product

question 45

True/False

A non-value-adding activity is one that adds cost to a product or service and also increases its market value.

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Definitions:

Economic Policies

Plans and actions taken by governments or financial authorities to influence or stabilize the economy, focusing on monetary, fiscal, and trade aspects.

Urban Planning

The process of designing and regulating the use of space within urban areas, focusing on the development and implementation of plans for land use, built environment, and infrastructure to improve the quality of life in cities.

Treadmill of Production

A theory in environmental sociology suggesting that constant economic growth leads to increasing resource extraction and environmental degradation.

Greenhouse Effect

The process in which increased production of greenhouse gases, especially those arising from human activity (e.g., carbon dioxide, nitrous oxide, and methane) causes changes to the earth’s atmosphere.