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प्रश्न
Distinguish between Factor Cost and Market Price.
उत्तर
| Factor Cost | Market Price | |
| 1. | The term factor cost refers to the prices of products as received by the producers. | MP is the market price paid by a buyer of a commodity. |
| 2. | FC = MP - NIT (NIT `->` Net indirect taxes) |
MP = FC + NIT (IT - Subsidies) |
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संबंधित प्रश्न
Given normal income, how can we find real income? Explain.
Explain non-monetary exchanges as a limitation of using the gross domestic product as an index of the welfare of a country
From the following data, calculate Personal Income and Personal Disposable Income.
| Rs (crore) | ||
| (a) | Net Domestic Product at factor cost | 8,000 |
| (b) | Net Factor Income from abroad | 200 |
| (c) | Undisbursed Profit | 1,000 |
| (d) | Corporate Tax | 500 |
| (e) | Interest Received by Households | 1,500 |
| (f) | Interest Paid by Households | 1,200 |
| (g) | Transfer Income | 300 |
| (h) | Personal Tax | 500 |
Identify the correctly matched pair of items in Column A to those in Column B:
| Column A | Column B |
| 1. Income Tax | (a) Forced Transfer |
| 2. Services of Housewives | (b) Market Activities |
| 3. Retirement Pension | (c) Taxable for Firm |
| 4. Annual value of goods and services produced. | (d) Income method |
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Suppose C = 40 + 0.8Y D. T = 50, I = 60, G = 40, X = 90, M = 50 + 0.05Y. Find equilibrium income
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Read the following figure carefully and choose the correct pair from the alternatives given below:
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Transfer payments:
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| PARTICULARS | (₹ crores) | |
| (i) | Value of output | 1200 |
| (ii) | Wages and salaries | 165 |
| (iii) | Rent | 60 |
| (iv) | Subsidies | 15 |
| (v) | Mixed Income of self employed | 180 |
| (vi) | Employer's contribution to social security | 15 |
| (vii) | Value of intermediate consumption | 600 |
| (viii) | Interest | 7 |
| (ix) | Factor income earned from abroad | 15 |
| (x) | Indirect taxes | 90 |
| (xi) | Profits | 23 |
| (xii) | Depreciation | 75 |
| (xiii) | Factor income paid abroad | 30 |
With reference to the diagram shown above, select the reason for the movement from point M to N from the following options.
