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प्रश्न
Distinguish between ‘Value of Output’ and ‘Value Added’.
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उत्तर
Value of output is the estimated money value of all the goods and services, inclusive of change in stock and production for self-consumption. Whereas, value added is the excess of the value of output over the value of intermediate consumption.
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संबंधित प्रश्न
Find net value added at factor cost:
(Rs lakh)
(i) Durable use producer goods with a life span of 10 years 10
(ii) Single use producer goods 5
iii) Sale 20
(iv) Unsold output produced during the year 2
(v) Taxes on production 1
Explain the precautions that are taken while estimating additional income by the value-added method.
What concept are all domestic variants?
Statement 1: AP can take positive values only.
Statement 2: TP can take negative values only.
Complete the table:
| Producer | Value of output | Intermediate Consumption |
Value Added |
| Farmer | 2,000 | - | 2,000 |
| Banker | __(i)__ | 2,000 | 2,000 |
| Retail Seller | 4,400 | (iii) | 400 |
| Total | __(ii)__ | 6,000 | __(iv)__ |
Briefly discuss any two precautions to be taken while calculating national income by the Value Added method.
Calculate National Income and operating Surplus from the following data:
| PARTICULARS | (₹crores) | |
| (i) | Government final consumption expenditure | 900 |
| (ii) | Net factor income from abroad | 210 |
| (iii) | Private final consumption expenditure | 1000 |
| (iv) | Net domestic capital formation | 300 |
| (v) | Profits | 320 |
| (vi) | Rent | 190 |
| (vii) | Net exports | (-) 75 |
| (viii) | Interest | 200 |
| (ix) | Net indirect taxes | 265 |
With the help of a reason, explain why the following are included in calculation of National Income.
Own account production
What is Circular flow of income?
Which assumption excludes transactions with the Rest of the World in a Simple Two-Sector Economy (Basic Model)?
In the basic model, households spend all income back on which items from firms?
Which method measures national income as total factor payments made?
During which phase do households spend income on goods and services?
Which list contains all four sectors in the complete model?
What flows in the Real Flow?
What flows in the Money Flow?
Which item is a Leakage?
What is the effect of Injections on the circular flow of income?
