Question

Value chains are a sequence of firm(s) that produce agricultural inputs, raise and process food, and deal with transport and distribution of such food. In other words, the sequence of firms follows food from inputs to farm to fork. These firms can be lumped into "sectors." What is the logical sequence of sectors in a value chain?

Answer 1

Answer:

Farming → Marketing (Processing and distribution)

Explanation:

"A value chain is a combination of the systems a company or organization uses to make money. That is, a value chain is made up of various subsystems that are used to create products or services. This includes the process from start to finish. "

"Factors of production are inputs used to produce an output, or goods and services. They are resources a company requires to attempt to generate a profit by producing goods and services. Factors of production are divided into four categories: land, labor, capital and entrepreneurship."

References:

Nickolas, Steven. “Which Inputs Are Factors of Production?” Investopedia, Investopedia, 8 Sept. 2019

Tarver, Evan. “What Are the Primary Activities of Michael Porter's Value Chain?” Investopedia, Investopedia, 26 May 2019