Question

Write the formula for gross domestic product at market price.

Answer 1

Answer:

Formula: GDP (gross domestic product) at market price = value of output in an economy in the particular year – intermediate consumption at factor cost = GDP at market price – depreciation + NFIA (net factor income from abroad) – net indirect taxes.

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Answer 2

Answer:

1. $value \: of \: output \: in \: an \: economy \: in \: the \: particular \: year - intermediate \: compution \: at \: factor \: cost \: gdp(gross \: domestice \: prodect = ddp - nfia$