If We Sum Up the Value Added at Every Stage

question 56

Multiple Choice

If we sum up the value added at every stage of production of a good, we will get:

• A) the total cost of the labor used to produce the good.
• B) the prices of the factors of production used to produce the good.
• C) the final value of the good.
• D) the capital-labor ratio.

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Definitions:

Data Collection

The process of gathering and measuring information on targeted variables in an established systematic fashion, enabling one to answer relevant questions and evaluate outcomes.

DBS

May refer to Database Systems, which are software applications designed to manage, manipulate, and query structured data stored in databases.

Knowledge Worker

An individual whose main capital is knowledge, typically engaged in the task of solving complex problems, generating ideas, or developing new information or products.

Marketing

Marketing is the process of promoting, selling, and distributing a product or service, involving market research and advertising to meet consumer needs.