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Lisa runs a dog grooming business and is always looking for new trends,reading articles,keeping notes,and talking to customers and suppliers about what is needed in the industry.What important function is Lisa performing?
Value Added
The increase in worth of a product or service as a result of a particular process, excluding the cost of initial raw materials.
Intermediate Goods
Products used as inputs in the production of final goods, such as raw materials or components, not sold directly to end consumers.
Market Value
The prevailing rate at which a good or service is available for purchase or sale in the open market.
Real GDP
measures the value of all final goods and services produced within a country in a given period of time, adjusted for inflation.
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