What precaution should be taken while estimating total productions? Explain with the example (flour and biscuits) given in textbook of economics class 10 cbse
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Precautions taken while estimating total production are:
- Impute the rent of owner's occupied houses.
- Impute the value of goods and services that are manufactured for free distribution or self-consumption.
- Impute the value of fixed assets of own account production by household, government and enterprises.
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