Value of a firm's output minus the value of intermediate goods it used…

Question

Value of a firm's output minus the value of intermediate goods it used is its:

Accepted Answer

A. Value added

1. It avoids double counting.
2. This is the firm's value added.
3. It is shared among labour, capital, entrepreneurship and land.
_Source: syllabus Introductory Macroeconomics, Chapter 2, National Income Accounting._

Answer

Gross profit

Answer

Net worth

Answer

Turnover

Value of a firm's output minus the value of intermediate goods it used is its:

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