The value-added method is used to calculate national income at different stages of the production process in a circular flow. It represents the value-added for each unit produced in the production process. Every organization adds value to the product, which it buys from other firms as an intermediate good.
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Answer:
The value-added method is used to calculate national income at different stages of the production process in a circular flow. It represents the value-added for each unit produced in the production process. Every organization adds value to the product, which it buys from other firms as an intermediate good.
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