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Net domestic product at factor cost?
Gross domestic product is sum of the gross value added in the various economic activities. GDP at factor cost plus indirect taxes less subsidies on products is known as producer price.
What adjustments must be made to total income to make it equal GDP?
Indirect taxes minus subsidies are added to get from factor cost to market prices.Depreciation (or Capital Consumption Allowance) is added to get from net domestic product to gross domestic product.
What is GDP at FC?
GDP fc is the gross domestic product at factor cost. the production cost for the overall goods and services produced with in an economy. GDP at factor cost = GDP at market price + net indirect taxes net indirect taxes = subsidies - indirect taxes
How is national income estimated by income distribution method?
In this method, national income is measured at the stage when factor incomes are paid out by the production units to the owners of the factors of production. The main steps involved in this method are as follows: (1) Classify the production units into distinct industrial sectors like agriculture, forestry, manufacturing, banking, trade etcetera. (2) Estimate the following factor incomes paid out by the production units in each industrial sector: (a)Compensation of employees (b)Rent (c)Interest (d)Profit The sum total of the above factor incomes paid out is the same as net value added at factor cost the industrial sector. (3) Take the sum of factor payments by all the industrial sectors to arrive at the net domestic product at factor cost. (4) Add net factor income from abroad to the net domestic product at factor cost to arrive at the net national product at factor cost.
What is Net National Product at factor cost?
all final goods that produce in the rest of the world
Net domestic product at factor cost?
Gross domestic product is sum of the gross value added in the various economic activities. GDP at factor cost plus indirect taxes less subsidies on products is known as producer price.
What adjustments must be made to total income to make it equal to GDP?
Indirect taxes minus subsidies are added to get from factor cost to market prices.Depreciation (or Capital Consumption Allowance) is added to get from net domestic product to gross domestic product.
What adjustments must be made to total income to make it equal GDP?
Indirect taxes minus subsidies are added to get from factor cost to market prices.Depreciation (or Capital Consumption Allowance) is added to get from net domestic product to gross domestic product.
What is GDP at FC?
GDP fc is the gross domestic product at factor cost. the production cost for the overall goods and services produced with in an economy. GDP at factor cost = GDP at market price + net indirect taxes net indirect taxes = subsidies - indirect taxes
What are the factor of rising cost of product?
Supply and demand are the most important factors in the rising cost of a product.
How is national income estimated by income distribution method?
In this method, national income is measured at the stage when factor incomes are paid out by the production units to the owners of the factors of production. The main steps involved in this method are as follows: (1) Classify the production units into distinct industrial sectors like agriculture, forestry, manufacturing, banking, trade etcetera. (2) Estimate the following factor incomes paid out by the production units in each industrial sector: (a)Compensation of employees (b)Rent (c)Interest (d)Profit The sum total of the above factor incomes paid out is the same as net value added at factor cost the industrial sector. (3) Take the sum of factor payments by all the industrial sectors to arrive at the net domestic product at factor cost. (4) Add net factor income from abroad to the net domestic product at factor cost to arrive at the net national product at factor cost.
What is the money factor formula used to calculate the cost of borrowing money?
The money factor formula used to calculate the cost of borrowing money is: Money Factor Annual Interest Rate / 2400.
What is Net National Product at factor cost?
all final goods that produce in the rest of the world
Is a direct labor wages a prime cost?
Formula for prime cost is as follows: prime cost = direct material + direct labor So according to above mention formula yes it is prime cost because whitout labor no unit of product can be manufactured.
What is the relationship between marginal productivity and marginal cost?
The marginal product curve is 'n' shaped because of the law of diminishing returns. As you add more units of a variable factor, at first, the marginal product rises, (this is because the fixed factor is under-utilised, so adding more units of the variable factor will increase the output from each additional unit). But after a certain point, the marginal product begins to fall, as the fixed factor input becomes diluted amongst workers and so you get less from each additional unit of the variable factor. For an example, re-read the above paragraph and replace the word variable factor with labour and fixed factor with capital. The marginal cost curve is the inverse of the marginal product curve - hence it is shaped like a 'u' or a 'Nike tick'. This is because if your marginal product is high - then your marginal costs are low. For example, if a firm must pay electricity for the time it takes to produce a unit, if the firm can produce the unit quicker (i.e. has a high marginal product) then the cost of electricity will be lower. Hence the inverse relationship between marginal cost and marginal product.
Is depreciation on a machine a period cost or product cost?
product cost
Is factory supplies a product cost or period cost?
Product cost
