The Value Added at All Production Stages Sums to the Market

question 91

True/False

The value added at all production stages sums to the market value of the final good,and the value added for all final goods sums to GDP based on the income approach.

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Definitions:

Merchandise Inventory

Goods or products that a retailer, wholesaler, or distributor holds for the purpose of resale to customers.

FOB Shipping Point

A shipping term indicating that the buyer assumes ownership and risk of loss of goods at the point of origin, and is responsible for freight costs.

Title

A legal term referring to the official right to own or possess property.

Inventory Records

Documented information about the quantity, type, and location of inventory a business has on hand or in transit.