The total of the values added at every stage of production for a good leads to the:
A) total cost of the labour used to produce the good.
B) prices of the factors of production used to produce the good.
C) final value of the good.
D) intermediate value of the good.

Question

Quizplus · Accepted Answer

The total of the values added at every stage of production for a good is known as the value added, and it represents the additional value created at each stage of production. This value added is ultimately reflected in the final value of the product, or the price that consumers are willing to pay for the good. Therefore, the correct answer is C, the final value of the good.

The Total of the Values Added at Every Stage of Production