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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
Explain the precautions that are taken while estimating additional income by the value-added method.
Define the following: Value Addition
How is microeconomics different from macroeconomics?
National income is equal to ______.
To include the value of goods or services more than one time while calculating National Income is called:
Which of the following will be excluded when one calculating National Income through the Value Added Method?
What concept are all domestic variants?
When calculating the national Income which of the following will not be considered?
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.
Goods supplied free of cost by the government.
