Business GCSE
Added Value
What Added Value means in Business GCSE, as defined for OCR.
Definition of Added Value
The difference between the cost of purchasing raw materials and the price the finished goods are sold for.
Topics that use Added Value
Related terms
Using Added Value in the exam
Definition questions usually carry one or two marks, and examiners look for the precise wording. Write the definition from memory, check it against the version above, and then use the term in a longer answer on the same topic so it sticks.
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