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What Are the Various Support Activities in a Value Chain

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What are the various support activities in a value chain?


Definitions:

Optimal Choices

Decisions that result in the best possible outcome, given any constraints or limitations faced.

Conditions Of Scarcity

A situation where the demand for a resource significantly exceeds its available supply, leading to allocation challenges.

Economics

The social science that studies how goods and services are produced, distributed, and consumed, and how individuals, businesses, and governments make choices given limited resources.

Institutions

Structures or mechanisms of social order governing the behavior of a set of individuals within a given community, including laws, norms, and organizations.

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