O-LevelCommerceProduction7100/11 · Oct/Nov 2012 · Q21 Mark

There are three stages in the chain of production. A jar of plum jam weighing 0.5kg is worth more to the customer than 0.5kg of plums growing on a tree. Which commercial term describes the reason for this?

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Aadded value

Bconsumer satisfaction

Cimported goods

Dtertiary production

✓ Correct answer

A: added value

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Topic: Production, O-Level Commerce (syllabus 7100). Multiple choice, 1 mark.
Source: O-Level Commerce, Oct/Nov 2012 Paper 1 Variant 1, question 2.

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