Value Added Concept

Jan

29

2016

When something is manufactured, a sum of money is spent on it, usually for the raw materials. That is the production cost. The enhancements a company adds to it’s products before offering it to the final consumer adds value to it and because of these enhancements the company or firm can sell the product at a higher value. This value is called the added value. In other words it is the difference between the sale price and production cost.

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