net national product at factor cost
Our mission is to provide an online platform to help students to discuss anything and everything about Economics. 25 on this output so that it is sold in the market for Rs. This is the market value of output, while income payments made to factors of production amount to Rs. Amluwood.
Let us presume that the actual cost of producing a certain output is Rs. The Government imposes taxes worth Rs. Loading... Unsubscribe from Amluwood? 125. 125.
NNP of Factor Cost = NDP at Factor Cost + Net Factor Income from abroad. The phrase at factor cost is to be contrasted with the phrase at market prices.Goods produced are sold at market prices which include the indirect taxes imposed by the Government. Suppose handloom cloth is subsidized at the rate of 10 paise per yard and sells at 90 paise per yard.
If we deduct depreciation allowances from the gross national product at factor cost, we get net national product at factor cost.NNP at Factor cost = GNP at Factor cost-Depreciation allowanceAccording to Peterson, “the net national product at factor cost is the sum total of net values added by all the producers in the domestic territory of the country plus net factor income from abroad.NNP of Factor Cost = NDP at Factor Cost + Net Factor Income from abroad.Net National Product at Factor cost in Microeconomics Thus, from the money value of NNP at market price or NNI we deduct the amount of indirect taxes to arrive at the net national income at factor cost.NNP at MP – Indirect Taxes = Net National Income at Factor Cost.On the other hand, a subsidy causes the market price to be less than the factor cost. 100, which is given to different factors of production as wages, rents, interest and profits. The Government imposes taxes worth Rs. within the domestic territory of a country. Before publishing your Articles on this site, please read the following pages: The money value of cloth at factor cost would be equal to its market price plus the subsidies paid on it..’.
Net Domestic Product at factor cost (NDP at FC) is the income earned by the factors in the form of wages, profits, rent, interest etc.
100, which is given to different factors of production as wages, rents, interest and profits. According to Peterson, “the net national product at factor cost is the sum total of net values added by all the producers in the domestic territory of the country plus net factor income from abroad.
Subsidy is an aid in money. Thus, while the consumer pays 90 paise per yard, the factors of production will receive Re.
Net National Product at Factor Cost. 100 only. 1 per yard.
Hence, net national income at factor cost shows the income actually received by the factors of production.Let us presume that the actual cost of producing a certain output is Rs.
Hence, net national income at factor cost shows the income actually received by the factors of production.
Net national product at factor cost is also called national income. 25 on this output so that it is sold in the market for Rs. Besides the above four remuneration it also includes (i) reserve fund or corporate saving of firms (ii) corporation and other direct tax (iii) mixed income of self- employed (iv) profits from Govt, enterprises (v) Property income of the …
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