Question

Very short answer type questions

3. What do you mean by value addition?




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Answer 1

Adding value to a product or service helps companies attract more customers, which can boost revenue. Value-added is the difference between a product's price and the cost of producing it. Value can be added in different ways, such as adding a brand name to a generic product or assembling a product in an innovative way.

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Answer 2

Answer:

the amount by which the value of an article is increased at each stage of its production, exclusive of initial costs.