Value added by a firm is equal to:
Value added by a firm is equal to:
(a) Sales
(b) Profits
(c) Sales – Intermediate Consumption
(d) Sales + Intermediate Consumption
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Ans – (c)
Explanation:-
Value of output = Sales + Change in stock
If the whole quantity is sold, the change in the stock is zero
Value of Output = Sales
Value added = Value of Output – Intermediate Consumption
Value added = Sales – Intermediate Consumption
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