"Value added" has been defined as:
A)decreasing the price of a food item to increase its perceived value.
B)increasing value of food through manufacturing and processing.
C)increasing the quality of a product compared to its price.
D)increasing the price of a product in relation to its cost to add value to the product.

Question

Quizplus · Accepted Answer

"Value added" refers to the process of increasing the value of a product through manufacturing and processing. This can involve adding features, improving quality, or enhancing packaging. This is usually done to increase the price and profit of the product. Option A is incorrect because decreasing the price of a product can reduce its value in the eyes of the consumer. Option C is incorrect because value added products do not necessarily have to be of higher quality compared to their price. Option D is incorrect because increasing the price alone does not add value to the product.

"Value Added" Has Been Defined As