Value added concept
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Value added concept is the theory that wages should equal the contribution of labor to the final product.
Definitions
According to Labor Relations and Collective Bargaining by Michael R. Carrell and Christina Heavrin (10th edition),
- Value added concept. The theory that wages should equal the contribution of labor to the final product.
Related concepts
- Labor relations. The systematic study of attitudes, motivations, and behaviors which two or more job-market actors assume toward each another.
