A nonparticipating policy will

________ measures a company’s ability to pay its debts, while ________ measures the company’s ability to earn a profit.

Fill in the blank(s) with correct word.

An export administrator, Beth Dorrell, notes, "A commodity raw material from Africa can be refined in Asia, then shipped to South America to be incorporated into a component of a final product that is produced in the Middle East and then sold around

the world." In light of this statement, describe supply chain, value chain, and logistics. List and briefly describe the most important distribution activities.