If a farmer sells wheat to the miller for Rs.500 and the miller sells flour to the baker for Rs.700 and finally, the baker sells bread to the consumer for Rs.1000, then total value added by miller and baker is:
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1 mark, −0.33MacroeconomicsNational income accountingThe income and value-added methodsEasyabout 1 min
UoH 2021 Question 68: National income accounting
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National income accounting has come up 132 times in 6 exams since 2010.
What this question tests
This question is on The income and value-added methods, part of National income accounting in Macroeconomics.
Measuring national product as factor incomes or as value added at each stage.
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