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What is splitting up the value chain?
Spliting up of value chain happens when firms identify the different process and stages inproduction and then find the process in which they have specialization. The process in whichthey do not have comparative advantage is normally outsourced.
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Chapter 19
International Trade
Introduction
How Markets Work
Markets and Welfare
The Economics of the Public Sector
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to answer What's putting up the value chain is. Let's understand what a value chain is First, a value chain is just how good is produced in stages. So let's say we are making a car. You have to get the wheels, get the wheels, and then you put it together with the body and then you get the engine. And if you guys can't tell or not, I'm not a mechanic, so I have no idea. And then finally, you get a car. Okay, so this is how everything is produced in stages. That's the Value chain now splitting up the value chain refers to the idea that not everything has to be produced in the same exact location, so the wheels could be produced in, um, let's say, America, the body you can be produced in China on the engine can be produced in Italy, and now all these parts come together and let's say they come together in Germany and then they produce a car, and that's your output. So when you split up the value chain, not everything
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