Explain the value added method with the help of an example.
Explain in brief, the steps involved in the estimation of value added by a firm, or
Mention the various steps of value added method of measuring National Income.
Give an outline of the steps involved in the estimation of national product by value added method.
Describe the steps involved in the estimation of National Income by value added method. State any two precautions that must be taken while estimating National Income by this method.