JAMB - Economics (2022 - No. 64)
A baker bought flour and other ingredients for S250.00, spent S52.00 on distribution, sold the bread for S320.00. The value added by the baker.
$302.00
$52.00
$18.00
$622.00
Explicació
Value added by the baker simply means profit which is calculated thus, profit= selling price - cost price
= $320 - (250 + 52)
= $320 - 302
Profit = $18
= $320 - (250 + 52)
= $320 - 302
Profit = $18