Exploring economics: the secret life of t-shirts
Exploring economics: the secret life of t-shirts

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Exploring economics: the secret life of t-shirts

Glossary

Firm
An organisation that purchases, combines and transforms inputs (land, labour and capital) into outputs of goods and/or services for sale.
Supply chain
A network of firms involved in different stages of producing and distributing a final good and service.
Value added
The additional value added at each stage of the supply chain.
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