Nonvalue-Adding Activities

question 9

Multiple Choice

Nonvalue-adding activities

• A) are unnecessary activities.
• B) are included in the value chain of activities.
• C) are all wasteful and targeted for elimination.
• D) add cost to a product or service but does not increase its market value

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Definitions:

Means of Production

The facilities, tools, equipment, and raw materials used to produce goods or services, typically owned and operated within economic systems like capitalism or socialism.

Economic System

The structure and methods by which a society organizes and allocates its resources, goods, and services, including systems such as capitalism, socialism, and communism.

Craft Unionism

A form of unionism where workers from a particular trade or craft form an exclusive union to secure better working conditions, wages, and employment standards for their members.

Union Membership

Denotes individuals who are formally part of a labor union, an organization that represents workers in negotiations with employers over wages, benefits, and working conditions.