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Question
Complete the correlation.
Output method : Product method :: ______ : Factor cost method.
Fill in the Blanks
Solution
Output method : Product method :: Income method : Factor cost method.
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RELATED QUESTIONS
State with reason, whether you agree or disagree with the following statement:
Under the output method, the value-added approach is used to avoid double counting.
State with reason whether you agree or disagree with the following statement:
Precautions are to be taken while using the product method of measuring national income.
Study the following table and answer the questions:
| Production Stage | Value of Input (₹) | Value added (₹) | Value of Output (₹) |
| Sugar cane (Farmer) | 0 | 25 | 25 |
| Sugar (Manufacturer) | `square` | 15 | 40 |
| Retailer | 40 | `square` | 50 |
| Total Value | `square` |
Questions:
- How much is the value of input for a manufacturer?
- How much value is added by the retailer?
- How much is the final value of the product?
- Which method of measuring national income is represented by the above table?
