Question
Download Solution PDFNational income is equal to-
Answer (Detailed Solution Below)
Detailed Solution
Download Solution PDFThe correct answer is NNPFC.
Key Points
- NNP at factor cost is equal to national income. Net National Product at factor cost is the aggregate made to the factors of production.
- Net national product (NNP) is the gross national product (GNP), the total value of finished goods and services produced by a country's citizens abroad and domestically, minus depreciation.
- NNPFC
- Factor cost refers to the cost of factors of production viz, rent of land, the interest of capital, the interest of capital wages for payment of employees for labour, and profit for entrepreneurship.
- NNP at Factor Cost = NNP at Market Price – Net Indirect tax.
- NNPMP
- Market Price is the price that consumers actually pay. It includes the component of indirect taxes and of subsidies. Accordingly, when indirect taxes are deducted and subsides added to the market price, we get the value of national income at factor cost.
- NNPMP = NNPFC + Indirect taxes – Subsidies.
Last updated on Jul 9, 2025
-> Bihar Police SI Scorecard has been released for the 2023 cycle. Candidates can download it by their roll numbers and date of birth.
-> The Notification for 2025 will be released soon announcing a substantial number of vacancies for the Bihar Police SI.
-> In the previous year, the Bihar Police SI Notification was released for a total of 1275 vacancies for the post of Sub Inspector under Bihar Police.
-> The Bihar Police SI Notification 2023 was released for a total of 1275 vacancies.
-> The Bihar police Sub Inspector selection process is based on Prelims Exam, Mains Exam, and PET/PST stages.
-> This is a great opportunity for graduate candidates. Prepare for the written test with Bihar Police SI Previous Year Papers.
-> Bihar Police Admit Card 2025 has been released at csbc.bihar.gov.in.