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Value addition refers to value added to the goods and services through different means so as to create a new product that has greater value to customers.
<mark>Value Chain</mark> refers to all the activities that create and build value at every step. Thus the total value added to the final product or service is the sum of the individual value added at every step.
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The peddler was amused by the idea that the whole world around him was nothing but a big rattrap. The riches, happiness, food, clothing and shelter etc. ... He thought that the whole world about him was nothing but a rattrap. Its lands, seas, cities, villages existed only to set baits for people
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Annual Growth Rate The rate at which the number of individuals in a population increase in 1 year as a fraction of the initial population is called an annual growth rate of population.
The annual growth rate is affected by the birth rate in the following ways:
- With the increase in birth rate, the annual growth rate generally increases.
- For a larger population, even having a lower birth rate, the annual growth rate keeps on increasing.
- For example, since 1981 the birth rates declined rapidly, still 18.20 crore people were added to the total population in the 1990s alone. If we calculate the annual growth rate based on these data it becomes very high.

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