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QUESTION 1 Value-added refers to: O the cost of inputs O the price of outputs. O the difference between cost of inputs and the value or price of outputs O the extra profit obtained from increased productivity. the ratio of outputs compared to inputs. QUESTION 2 What is the productivity for a production line where 10 workers assembled 320 products in 8 hours? O 0.25 0 4 O 32 O 40 320 QUESTION 3 Which of the following isnot an advantage of automation? O Machines run automatically O Reduced variable costs O Machines are much more flexible than human labour O Machines don't strike or file grievances