HSC Arts 12th Board ExamMaharashtra State Board
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Distinguish Between Gross Domestic Product at a Market Price and Gross Domestic Product at Factor Cost. - HSC Arts 12th Board Exam - Economics

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Question

Distinguish between Gross domestic product at a market price and Gross domestic product at factor cost.

Solution

Basis of Difference Gross domestic product at a market price Gross domestic product at factor cost
Meaning Gross market value of all goods and services produced within the domestic territory. Gross money value of all goods and services produced within the domestic territory.
Subsidy/Indirect tax Includes indirect tax paid but excludes subsidies Includes subsidies but excludes indirect taxes paid
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APPEARS IN

 2013-2014 (March) (with solutions)
Question 3.1.4 | 2.00 marks

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Solution Distinguish Between Gross Domestic Product at a Market Price and Gross Domestic Product at Factor Cost. Concept: Equilibrium Price.
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