_____ Is One of the Five Primary Activities That Value

question 53

Multiple Choice

_____ is one of the five primary activities that value chains include.

• A) Procurement
• B) Firm infrastructure
• C) Technology
• D) Human resource management
• E) Inbound logistics

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Definitions:

Equilibrium World Price

The price at which the supply of a good on a global scale exactly matches the world demand for that good.

Production Possibilities Curve

A graphical representation that shows the maximum quantity of two goods that can be produced within a given resource constraint.

Trading Possibilities Curve

A graphical representation that shows the different quantities of two goods or services that a country can efficiently produce and trade given fixed resources.

Specialize

The process of focusing on a narrow area of expertise or production, allowing individuals or firms to increase efficiency and quality.