Asked by Katelynd Hayward on May 22, 2024
Verified
The final market value of a good is _____.
A) the sum of the value added at all stages of production
B) the value added at one stage of production
C) greater than the sum of all the values added at all stages of production
D) less than the sum of all the values added at all stages of production
E) the value added at the final stage of production
Final Market Value
The total worth of a product or service determined at the point of sale, reflecting the end price paid by consumers.
Production Stages
Production stages refer to the various phases involved in creating a product, from initial design and raw material sourcing to manufacturing, finishing, and eventually, distribution.
- Comprehend the notion of value addition within the framework of Gross Domestic Product.
Verified Answer
MV
Manjari VemparalaMay 27, 2024
Final Answer :
A
Explanation :
The final market value of a good is the sum of the value added at all stages of production. This approach accounts for the incremental value that each stage of production contributes to the final product, avoiding double counting the value of intermediate goods.
Learning Objectives
- Comprehend the notion of value addition within the framework of Gross Domestic Product.