Each Stage of the Value Chain Not Only Adds Value

question 44

Multiple Choice

Each stage of the value chain not only adds value to the product but also ________.

• A) improves supplier relationships
• B) accumulates costs
• C) devalues the final product
• D) attracts competitors

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Definitions:

Invention

The creation of a new device, process, or method, often something that has not existed before.

Division of Labor

The allocation of different parts of a manufacturing process or task to different people, based on specialized skills, to increase efficiency.

Pre-agriculture Societies

Human communities that existed before the development of farming and agricultural practices, typically relying on hunting, gathering, and fishing for subsistence.

Jobs

Positions of employment where individuals are hired to perform specific duties in exchange for compensation.