Final answer:
The statement about the supply chain is true, describing it as the entire process of moving goods, services, and information from raw materials to consumers, including exchanges of information and payments.
Step-by-step explanation:
The statement that 'The supply chain describes the flow of goods, services, and information from the initial sources of materials and services to the delivery of products to consumers' is TRUE.
A supply chain encompasses all the steps involved in getting a product from the raw materials stage through to the end-user, including production, handling, storage, and distribution. During the process, information and financial payments are exchanged between the suppliers, producers, and customers.
Supply chains can be affected by various external factors, such as technological advancements, transportation methods, labor policies, and even global events like the COVID-19 pandemic, which can disrupt operations and influence prices, as demonstrated by slowdowns in production and transportation leading to supply chain disruptions.