Define the term supply chain, and describe the three components and the three flows of a supply chain.

1 answer:

7 0

<span>The term supply chain refers to the somewhat extensive process and means needed in transferring or transporting a product from the supplier to the customer. Supply chain uses both physical and information flows to achieve this end result. The three components of a physical flow of a supply chain are the transformation, movement, and storage of materials.</span>

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what's the question here?

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Oligopoly market has the power to affect the demand as well as the supply . In case of market power the output reduces but there is no loss in economic welfare.

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