Definition: Value added is a measure of output. Value added by an organization or industry is, in
principle:
revenue - non-labor costs of inputs
where revenue can be imagined to be price*quantity, and costs are usually described by capital (structures, equipment, land), materials, energy, and purchased services.
Treatment of taxes and subsidies can be nontrivial.
Value-added is a measure of output which is potentially comparable across countries and economic structures.
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