Lesson 5 of 9 • 836 upvotes • 10:24 mins
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.
9 lessons • 1h 30m
Introduction to National Income Accounting (for UPSC CSE)
10:01 mins
Learn Important Definitions of National Income Accounting (for UPSC CSE)
10:19 mins
Detailed Outline of Gross National Product (for UPSC CSE)
10:28 mins
Comprehend Concepts Of 'Net' & 'Gross' (for UPSC CSE)
8:20 mins
Understand Factor Cost & Market Price in National Income Accounting (for UPSC CSE)
10:24 mins
Learn to Calculate Indices on the basis of NIA (for UPSC CSE)
10:30 mins
Understand Which Is The Best Index? (for UPSC CSE)
10:13 mins
How To Measure National Income (Part 1) (for UPSC CSE)
9:57 mins
How To Measure National Income (Part 2) (for UPSC CSE)
9:54 mins