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WAEC Economics 2018 Question 31

Question 31

National Income

A baker bought flour and other ingredients for $250.00, spent $52.00 on distribution, sold the bread for $320.00. The value added by the baker

  1. A.$302.00
  2. B.$52.00
  3. C.$18.00
  4. D.$622.00
Show the answer and explanation

Answer: C ($18.00)

Explanation

Value added = sales − bought-in inputs = 320 − 250 − 52 = $18.