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How is GDP calculated in India?
Indian GDP is calculated by Expenditure method which is as follows:GDP = consumption + investment + (government spending) + (exports-imports) and the formula is GDP = C + I + G + (X-M)Where:C - stands for consumption which includes personal expenditures pertaining to food, households, medical expenses, rent, etcI - stands for business investment as capital which includes construction of a new mine, purchase of machinery and equipment for a factory, purchase of software, expenditure on new houses, buying goods and services but investments on financial products is not included as it falls under savingsG- stands for the total government expenditures on final goods and services which includes investment expenditure by the government, purchase of weapons for the military, and salaries of public servantsX - stands for gross exports which includes all goods and services produced for overseas consumptionM - stands for gross imports which includes any goods or services imported for consumption and it should be deducted to prevent from calculating foreign supply as domestic supplySurendra
The purchase and use of goods and services to impress others is called?
conspicuous consumption
Is the government's purchase of a new submarine for the navy included in GDP?
Yes, it is included as goverment consumption.
What is the name for the person that dose the sale of goods to the public in relatively small quantities for use or consumption rather than for resale?
The person who sells goods to the public in relatively small quantities for personal use or consumption is known as a retailer. Retailers operate through various channels, including physical stores, online platforms, and markets, and they typically purchase products from wholesalers or manufacturers to sell directly to consumers.
What is the difference between capital and non-capital purchases?
When the purpose of the article purchase serve more than one year, the purchase is called Capital Purchase (eg. asset purchase) and if the purpose of the article serve immediately or its consumption is within the year, such purchase is called non-capital purchase (eg. goods, stationery etc)
What do payment documents include?
SF 1034, Public Voucher for purchase and services other than personal and SF 1164, Claim for Reimbursement for Expenditures on Official Buisness
Capital expenditures include?
Capital expenditures include all investments in fixed assets (PPE investments or purchase of PPE on the Cash Flow Statement).
What are the different kinds of consumption?
Consumption can be categorized into various types, including personal consumption, which refers to the goods and services individuals purchase for personal use; public consumption, involving government expenditure on services like education and healthcare; and durable versus non-durable consumption, where durable goods are long-lasting items like cars and appliances, while non-durable goods are consumed quickly, like food and toiletries. Additionally, there is conspicuous consumption, which emphasizes the purchase of luxury items for social status, and sustainable consumption, focusing on environmentally friendly products and practices. Each type reflects different motivations and impacts on the economy and society.
How is GDP calculated in India?
Indian GDP is calculated by Expenditure method which is as follows:GDP = consumption + investment + (government spending) + (exports-imports) and the formula is GDP = C + I + G + (X-M)Where:C - stands for consumption which includes personal expenditures pertaining to food, households, medical expenses, rent, etcI - stands for business investment as capital which includes construction of a new mine, purchase of machinery and equipment for a factory, purchase of software, expenditure on new houses, buying goods and services but investments on financial products is not included as it falls under savingsG- stands for the total government expenditures on final goods and services which includes investment expenditure by the government, purchase of weapons for the military, and salaries of public servantsX - stands for gross exports which includes all goods and services produced for overseas consumptionM - stands for gross imports which includes any goods or services imported for consumption and it should be deducted to prevent from calculating foreign supply as domestic supplySurendra
Does the owner or employees of a retail business have to pay sales tax if they purchase goods from the vendor for themselves?
A purchase is exempt (excused) from sales tax if the item/s will be re-sold. If a purchase is made for consumption (for personal use) sales tax needs to be paid.
What is the definition of organization marketing?
Organization marketing has to do with the purchasers of goods. The inclusion of all purchasers of a specific good who purchase it for reasons other than personal consumption comprise organizational marketing.
Examples of capital expenditure and revenue expenditure?
Capital expenditures are included in fixed asset costs. Examples of capital expenditures are purchase costs, legal charges delivery charges, and installation charges. Revenue expenditures include maintenance charges, renewal expenses, repair costs, and repainting costs.
What are consumers also called?
Consumers are also referred to as buyers or customers. They are individuals who purchase goods or services for personal use or consumption.
What documents can you verify for capital expenditures?
To verify capital expenditures, you can review documents such as invoices for equipment or asset purchases, contracts or agreements related to construction or major projects, and purchase orders. Additionally, financial statements reflecting capital asset additions and depreciation schedules can provide insights into recorded expenditures. It's also important to examine project budgets and approval documents to ensure expenditures align with planned investments.
The purchase and use of goods and services to impress others is called?
conspicuous consumption
Where can one purchase personal organisers?
Walmart is one of the most shopped at locations to purchase a personal organizer. Target is also among the top places to purchase one. Staples is the third place you can purchase this.
What were the results of the Louisana purchase?
it gave the USA the majority of the middle states.
