Wages may decrease significantly for labor during such a transition. Over time, the populace may shift to generate


Some of these desirable features get reflected in GDP: spacious, well-constructed homes, good star hotels and restaurants, a variety of entertaining and high-quality medical services. GDP or Gross Domestic Product can be expressed in both market price and factor cost values. (3) Gross Domestic Product (GDP): Definition and Explanation of GDP: It is a key concept in the national income. Generally, when an economy continues to suffer recession for two or more quarters, it is called depression. Description: Apart from Cash Reserve Ratio (CRR), banks have to maintain a stipulated proportion of their net demand and time liabilities in the form of liquid assets like cash, gold and unencumbered securities. Factor income is most commonly used in macroeconomic analysis, helping governments to determine the difference between gross domestic product (GDP… Thus GDP at factor cost = Net Domestic product at Factor Cost + Depreciation.

Hence the formula for GDP (fc) is-GDP (fc) = GDP (mp) - indirect taxes + subsidy OR GDP (fc) = GDP (mp) - net indirect taxes Here in the formula of factor cost, the subsidy from GDP (mp) was reduced because the government gives subsidy on the sale of some items like- (sugar, rice, LPG cylinder).

If depreciation charge is added to the Net Domestic product at factor cost, it is called gross domestic product of factor cost. Quality of Life: Various factors make a particular town or city an attractive place to live. First Published: February 28, 2011 | Last Updated:July 27, 2017If the Government tries to raise the subsidies, the Difference between theThe Question is, if the Economic Survey says that Economy has grown by 8.6 % in this year, what does it indicate? The proposals submitted by the companies to the Ministry of Electronics and IT t...Data on children as sources of coronavirus spread are sparse.Gold standard for rating CSR activities by corporates Proposed definitions will be considered for inclusion in the Economictimes.comService tax is a tax levied by the government on service providers on certain service transactions, but is actually borne by the customers. An economy is the large set of interrelated economic production and consumption activities which aid in determining how scarce resources are allocated.
Economics is a branch of social science focused on the production, distribution, and consumption of goods and services. The introduction of technology that does not utilize such labor, or only partially relies on it, means that GDP at factor cost plus indirect taxes less subsidies on products is known as producer price.

We take following example to understand this.© Copyright 2009-2019 GKToday | All Rights Reserved Thus, asset turnover ratio can be a determinant of a company’s performance. Simply stateMarginal standing facility (MSF) is a window for banks to borrow from the Reserve Bank of India in an emergency situation when inter-bank liquidity dries up completely. Gross domestic product is sum of the gross value added in the various economic activities. Factors of production are the inputs needed for the creation of a good or service. In the world of finance, comparison of economic data is of immense importance in order to ascertain the growth and performance of a compan: Domestic institutional investors are those institutional investors which undertake investment in securities and other financial assets of the country they are based in. Description: In this case, the service provider pays the tax and recovers it from the customer. Chart. Meanwhile, nations focusing on agriculture may see an uptick in factor income derived from land, though crop failures or declining prices may lead to decreases. It can be defined as the actual cost incurred on goods and services produced by industries and firms is known as factor costs. A large difference in factor income is more likely to be found in small, developing nations, where a significant portion of income may be generated by

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