Primary Activities Are Those Business Activities Through Which a Company

question 50

True/False

Primary activities are those business activities through which a company produces goods, thus creating value for which customers are willing to pay such as purchasing of materials, processing materials into products, and delivery of products to customers.

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Definitions:

Terms Of Trade

The ratio at which a country can trade its exports for imports from other countries, indicating the economic value of goods a country can procure through international trade.

Specializing

The process of focusing on and becoming an expert in a particular subject or skill, often leading to increased efficiency and productivity.

Maximum-Output

The highest level of production that a company can sustain over the long term without increasing its costs per unit of output.

Mutually Beneficial Exchange

An economic interaction where all parties involved gain or perceive a gain from the transaction.