Company Logo

Understand Factor Cost & Market Price in National Income Accounting (for UPSC CSE)

Lesson 5 of 9 • 838 upvotes • 10:24mins


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.

Continue on app

Crack UPSC CSE - GS with Unacademy

Get subscription and access unlimited live and recorded courses from India's best educators
Structured syllabus
Structured syllabus
Daily live classes
Daily live classes
Ask doubts
Ask doubts
Tests & practice
Tests & practice

More from Ayussh Sanghi

Similar Plus Courses

  • About us
  • Careers
  • Blogs
  • Privacy Policy
  • Terms and Conditions
Play Store
App Store
warningNo internet connection