Value Added Can Be Determined by

question 71

Multiple Choice

Value added can be determined by

• A) summing the profits of all enterprises in the economy.
• B) subtracting the purchase of intermediate products from the value of the sales of final products.
• C) calculating the year-to-year changes in real GDP.
• D) deflating nominal GDP.

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Definitions:

Relationship Selling

A sales approach that emphasizes building a long-term relationship with customers rather than focusing solely on individual transactions.

Customer Loyalty

The likelihood of previous customers to continue buying from a company, often as a result of their positive experiences or satisfaction with products and services.

Business Selling

The process of selling products or services directly to other businesses rather than individual consumers.

Sales Call

A communication method, often a phone call or face-to-face meeting, initiated by a sales representative towards a potential buyer to sell a product or service.