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National Income Accounting — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNational Income Accounting1 Mark
Question
What is value added?
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Answer

Value added is the difference between Value of output of a firm and value of input bought from other firms. Thus, Value added can be known as value of final output.

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