Question

What is the value of final goods in this case?
A farmer grows cotton worth Rs 100. This he sells to the weaver. The weaver produces cloth for Rs 150 and sells it for Rs 100 to a tailor and the balance to Meera a household. The tailor uses the cloth to stitch 3 shirts. Each shirt costing Rs 40 bought by Suhail, Sudhir and Siddharth.

Answer 1

Answer:

Calculate the value of final goods (which will become part of the GDP) in the case given below.

A cotton farmer sells his weekly output of cotton to a weaver for Rs 5,000. The weaver weaves cloth out of this and sells it to the cloth trader for Rs 6,500. The trader sells part of this cloth to a shirt maker for Rs 5,000 and the remaining cloth to a retailer for Rs 3,000. The shirt maker makes 60 shirts, each selling for Rs150. The cloth retailer sells his cloth to the final customers for Rs 4,000.

Explanation:

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