Question

what is GDP at factor cost?

Answer 1

GDP meand gross domestic product

Answer 2

heya user,

when we talk about GDP at factor cost, firstly we will know product evaluation on the bases of factor cost, so factor cost include depreciation but not include net indirect taxes whereas when we talk about market price, market price includes depreciation, indirect taxes n subsidies so....

in terms of formula we will written as -)
GDP at factor cost = GDP at market price -net indirect tax.

hope this Help !^_^