Final answer:
Firms can create value through value-chain activities by finding better or different ways to perform activities and by integrating new activities. Specialization and splitting up the value chain allows for the production of more specialized goods and can lead to economic gains.
Step-by-step explanation:
In the world economy, firms can use value-chain activities to create value by either finding better ways to perform the same activities or by finding different ways to perform the same activities, integrating new activities. The value chain describes how a good is produced in stages, and firms can split up the value chain by operating in different places or even different countries. This allows for specialization and the production of more specialized goods, which can result in economic gains.