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What do you mean by gross domestic product at factor cost? - Economics

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Question

What do you mean by gross domestic product at factor cost?

Very Short Answer
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Solution

The total value of all finished products and services produced inside a nation’s borders is its gross domestic product at factor cost.

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Chapter 32: Concepts of National Income - TEST QUESTIONS [Page 32.17]

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R. K. Lekhi and P. K. Dhar Economics [English] Class 12 ISC
Chapter 32 Concepts of National Income
TEST QUESTIONS | Q A. 5. | Page 32.17
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