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

question 68

True/False

A value-adding activity is one that adds cost to a product or service but does not increase its market value.

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Definitions:

Marginal Utility

The extra utility or pleasure a person receives by using an additional unit of a good or service.

High-Speed Internet

Internet service that offers significantly faster download and upload speeds compared to traditional dial-up Internet, enhancing user experience for streaming, gaming, and browsing.

Quiet Evenings

Periods of time characterized by a lack of noise and activity, often considered peaceful or tranquil.

Utility

In economics, the satisfaction or benefit derived by consuming a product or service.