Non-Value Added Activities Are Activities That Neither Enhance the Customer's

question 140

True/False

Non-value added activities are activities that neither enhance the customer's image of the product or service nor provide a competitive advantage.

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Definitions:

Market

A place or system where parties engage in exchange, buying and selling goods and services.

S And D

Shorthand for Supply and Demand, the interaction between the quantity of goods offered by the market and the desires of consumers.

Overproduction

A situation where more goods are produced than can be sold, leading to surplus inventory and often resulting in waste or economic imbalances.

Market Price

The existing rate at which a service or asset is offered for buying or selling in a certain market.