what is additional value?
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ᴀᴅᴅᴇᴅ ᴠᴀʟᴜᴇ ɪs ᴛʜᴇ ᴅɪғғᴇʀᴇɴᴄᴇ ʙᴇᴛᴡᴇᴇɴ ᴛʜᴇ sᴇʟʟɪɴɢ ᴘʀɪᴄᴇ ᴀɴᴅ ᴛʜᴇ ᴄᴏsᴛ ᴘʀɪᴄᴇ ᴏғ ᴀ ɢᴏᴏᴅ ᴏʀ sᴇʀᴠɪᴄᴇ . ᴡʜᴇɴ ᴀ ɢᴏᴏᴅ ᴏʀ sᴇʀᴠɪᴄᴇ ɪs ᴍᴀᴅᴇ ᴍᴏʀᴇ ᴀᴘᴘᴇᴀʟɪɴɢ, ᴄᴜsᴛᴏᴍᴇʀs ᴡɪʟʟ ᴜsᴜᴀʟʟʏ ʙᴇ ᴡɪʟʟɪɴɢ ᴛᴏ ᴘᴀʏ ᴍᴏʀᴇ. ᴛʜᴇʀᴇғᴏʀᴇ, ᴀᴅᴅɪɴɢ ᴠᴀʟᴜᴇ ɪɴᴄʀᴇᴀsᴇs ᴛʜᴇ ᴀᴍᴏᴜɴᴛ ᴏғ ᴘʀᴏғɪᴛ ᴛʜᴀᴛ ᴀ ʙᴜsɪɴᴇss ᴄᴀɴ ᴍᴀᴋᴇ.
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ʀ ʏ ғɪɴᴇ?
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Value added is the difference between the cost of goods purchased by a business and its revenue.
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