A Restaurant's Value Chain Includes

question 26

Multiple Choice

A restaurant's value chain includes:

• A) only the restaurant.
• B) only upstream contributors.
• C) only downstream contributors.
• D) all of the other answers.
• E) both up and downstream contributors.

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Definitions:

Quotas

Quotas are government-imposed trade restrictions that limit the number or monetary value of goods that can be imported or exported during a specific time period.

Politically Influential

Describes individuals or groups that hold significant power to affect public policy or government actions.

Import Protections

Measures such as tariffs and quotas that countries implement to protect their domestic industries from foreign competition.

Consumer Surplus

The disparity between the amount consumers are prepared to spend on a product or service and the actual price they pay.