ECONOMICS (CBSE/UGC NET)

Detailed explanation-1: -A commodity chain is a process used by firms to gather resources, transform them into goods or commodities, and finally, distribute them to consumers. It is a series of links connecting the many places of production and distribution and resulting in a commodity that is then exchanged on the world market.

Detailed explanation-2: -Value chains (also known as commodity chains) are a series of stages conditioned by the location and availability of raw materials, production costs, and the location of main consumption markets. This sequence allows for the provision of goods to markets.

Detailed explanation-3: -A supply chain is a network of individuals and companies who are involved in creating a product and delivering it to the consumer. Links on the chain begin with the producers of the raw materials and end when the van delivers the finished product to the end user.

Detailed explanation-4: -INTEGRATION. Integration starts at your strategic planning phase and is critical throughout your communications and information sharing and data analysis and storage. OPERATIONS. PURCHASING. DISTRIBUTION.