PRC-3 · Chapter 1 · Question 33 of 61
A bakery purchases flour, sugar, and eggs, and uses ovens and bakers to bake cakes that are sold at a premium price. What is this process of adding value to inputs to create outputs called?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) The transformation process
Explanation
The transformation process (or value chain) is how a business takes inputs (resources) and converts them into outputs (goods/services) of higher value.
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