A Firm's Value Added Can Be Measured as the Value

question 7

Multiple Choice

A firm's value added can be measured as the value of its

• A) profits.
• B) purchases of inputs from other firms.
• C) total sales.
• D) total sales, less purchases from other firms.

---

Definitions:

OPEC

The Organization of the Petroleum Exporting Countries, a group of oil-producing nations that coordinate petroleum policies and prices internationally.

World's Oil

Refers to the global production, distribution, and consumption of crude oil as a key energy source.

Saudi Arabia

A sovereign country in the Middle East, known for its vast oil reserves, which play a central role in its economy, and as the birthplace of Islam.

Price Of Oil

The cost per barrel of crude oil, influenced by factors such as supply, demand, geopolitical tensions, and production decisions by OPEC and non-OPEC countries.