Understand Factor Cost & Market Price in National Income Accounting (for UPSC CSE)
Lesson 5 of 9 • 836 upvotes • 10:24 mins
Ayussh Sanghi
In this lesson, the presenter furthers our understanding of the course on National Income Accounting by explaining the concept of "Factor Cost" which is the actual cost incurred on goods & services. Using a very simple example, the presenter explains the calculation of this concept. He then explains the concept of "Market price" which is the price at which the goods are sold. The features of the same are explained in detail and also the types of taxes that are levied on goods manufactured or sold are shed light upon.
Economy for UPSC CSE (IAS): National Income Accounting
9 lessons • 1h 30m
1
Introduction to National Income Accounting (for UPSC CSE)
10:01 mins
2
Learn Important Definitions of National Income Accounting (for UPSC CSE)
10:19 mins
3
Detailed Outline of Gross National Product (for UPSC CSE)
10:28 mins
4
Comprehend Concepts Of 'Net' & 'Gross' (for UPSC CSE)
8:20 mins
5
Understand Factor Cost & Market Price in National Income Accounting (for UPSC CSE)
10:24 mins
6
Learn to Calculate Indices on the basis of NIA (for UPSC CSE)
10:30 mins
7
Understand Which Is The Best Index? (for UPSC CSE)
10:13 mins
8
How To Measure National Income (Part 1) (for UPSC CSE)
9:57 mins
9
How To Measure National Income (Part 2) (for UPSC CSE)
9:54 mins
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