Question
GDP at factor cost is
Answer: Option B
Answer: (b)
GDP at factor cost is GDP at market price minus indirect taxes plus subsidies.
GDP at factor cost measure the value of output in terms of what it really costs to produce.
The gross value of output = Value total Sales Goods & Services + Value of changes in the inventories.
The Sum of net value added in various economic activities is known as GDP at factor cost.
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Answer: (b)
GDP at factor cost is GDP at market price minus indirect taxes plus subsidies.
GDP at factor cost measure the value of output in terms of what it really costs to produce.
The gross value of output = Value total Sales Goods & Services + Value of changes in the inventories.
The Sum of net value added in various economic activities is known as GDP at factor cost.
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