Gross Domestic Product at Factor Cost Calculator

✖Gross Domestic Product at Market Price is a measure of the total value of all final goods and services produced within a country's borders during a specific time period.ⓘ Gross Domestic Product at Market Price [GDP_mp]			+10% -10%
✖Subsidies are financial assistance provided by the government to individuals, businesses, or industries to support or promote certain activities, goods, or services.ⓘ Subsidies [S_s]			+10% -10%
✖Indirect Taxes are the taxes imposed by the government on goods and services rather than on individuals or businesses directly.ⓘ Indirect Taxes [IT]			+10% -10%

✖Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced within a country's borders during a specific time period.ⓘ Gross Domestic Product at Factor Cost [GDP_fc]

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Formula

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Gross Domestic Product at Factor Cost

Formula

`"GDP"_{"fc"} = "GDP"_{"mp"}+"S"_{"s"}-"IT"`

Example

`"34750"="25050"+"12000"-"2300"`

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Gross Domestic Product at Factor Cost Solution

STEP 0: Pre-Calculation Summary

Formula Used

Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes
GDP_fc = GDP_mp+S_s-IT
This formula uses 4 Variables

Variables Used

Gross Domestic Product at Factor Cost - Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced within a country's borders during a specific time period.
Gross Domestic Product at Market Price - Gross Domestic Product at Market Price is a measure of the total value of all final goods and services produced within a country's borders during a specific time period.
Subsidies - Subsidies are financial assistance provided by the government to individuals, businesses, or industries to support or promote certain activities, goods, or services.
Indirect Taxes - Indirect Taxes are the taxes imposed by the government on goods and services rather than on individuals or businesses directly.

STEP 1: Convert Input(s) to Base Unit

Gross Domestic Product at Market Price: 25050 --> No Conversion Required
Subsidies: 12000 --> No Conversion Required
Indirect Taxes: 2300 --> No Conversion Required

STEP 2: Evaluate Formula

Substituting Input Values in Formula

GDP_fc = GDP_mp+S_s-IT --> 25050+12000-2300

Evaluating ... ...

GDP_fc = 34750

STEP 3: Convert Result to Output's Unit

34750 --> No Conversion Required

FINAL ANSWER

34750 <-- Gross Domestic Product at Factor Cost

(Calculation completed in 00.004 seconds)

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Created by Aashna

IGNOU (IGNOU), India

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BMS College of Engineering (BMSCE), Bangalore

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< 20 Macroeconomics Calculators

Operating Surplus

Go Operating Surplus = Value of Output-Intermediate Consumption-Compensation of Employees-Mixed Income-Consumption of Fixed Capital-Net Indirect Taxes

Components of Aggregate Demand

Go Components of Aggregate Demand = Private Consumption Expenditure+Investment Expenditure+Government Expenditure+Net Exports

Real Effective Exchange Rate

Go Real Effective Exchange Rate = (Consumer Price Index of Domestic Nation*Nominal Effective Exchange Rate)/Consumer Price Index of Foreign Country

Net Factor Income from Abroad

Go Net Factor Income from Abroad = Net Compensation of Employees+Net Income from Property and Entrepreneurship+Net Retained Earnings

National Disposable Income

Go National Disposable Income = National Income+Net Indirect Taxes+Net Current Transfers from the Rest of the World

Gross Domestic Product at Factor Cost

Go Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes

Change in Money Supply

Go Change in Money Supply = (1/Required Reserve Ratio)*Change in Bank Reserves-(Initial Deposit Amount)

Personal Disposable Income

Go Personal Disposable Income = Personal Income-Personal Taxes-Miscellaneous Receipts of Government

Life Expectancy

Go Life Expectancy = Current Age of the Individual+Average Life Expectancy-Adjustment Factor

Private Final Consumption Expenditure

Go Private Final Consumption Expenditure = Household Final Consumption Expenditure+Non Profit Private Institutions FCE

Gross National Product at Market Price

Go Gross National Product at Market Price = Gross Domestic Product at Factor Cost+Net Factor Income from Abroad

Net Domestic Product at Factor Cost

Go Net Domestic Product at Factor Cost = Net Domestic Product at Market Price-Net Indirect Taxes

Net Domestic Product at Market Price

Go Net Domestic Product at Market Price = Gross Domestic Product at Market Price-Depreciation

Growth Rate of Money Supply

Go Growth Rate of Money Supply = Rate of Inflation+Growth Rate of Real Gross Domestic Product

Real Gross Domestic Product Per Capita

Go Real Gross Domestic Product Per Capita = Real Gross Domestic Product/Total Population

Expenditure Multiplier

Go Expenditure Multiplier = Initial Consumer Price Index/Change in Government Spending

Gross National Disposable Income

Go Gross National Disposable Income = Net National Disposable Income+Depreciation

Velocity of Money

Go Velocity of Money = Nominal Gross Domestic Product/Money Supply

Real Wage

Go Real Wage = Nominal Wage/Consumer Price Index

Simple Deposit Multiplier

Go Simple Deposit Multiplier = 1/Required Reserve Ratio

Gross Domestic Product at Factor Cost Formula

Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes
GDP_fc = GDP_mp+S_s-IT

What do you mean by Gross Domestic Product at Factor Cost ?

Gross Domestic Product at Factor Cost is an important measure of the income generated within an economy and is used in national accounting to assess economic performance and make comparisons across different sectors and countries. Factor cost refers to the total income earned by the factors of production (i.e., labour, capital, and entrepreneurship) involved in the production process. GDP at factor cost measures the value of output produced by these factors before any adjustments for taxes on production and subsidies provided to producers. To calculate GDP at factor cost, one typically starts with gross value added at factor cost, which is the total value added by all sectors of the economy before accounting for taxes and subsidies. Then, intermediate consumption (the value of goods and services used up in the production process) is subtracted from GVA to obtain GDP at factor cost.

How to Calculate Gross Domestic Product at Factor Cost?

Gross Domestic Product at Factor Cost calculator uses Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes to calculate the Gross Domestic Product at Factor Cost, Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced in a country during a specific time duration, typically a year, after accounting for the cost of intermediate consumption and before accounting for indirect taxes and subsidies. Gross Domestic Product at Factor Cost is denoted by GDP_fc symbol.

How to calculate Gross Domestic Product at Factor Cost using this online calculator? To use this online calculator for Gross Domestic Product at Factor Cost, enter Gross Domestic Product at Market Price (GDP_mp), Subsidies (S_s) & Indirect Taxes (IT) and hit the calculate button. Here is how the Gross Domestic Product at Factor Cost calculation can be explained with given input values -> 34550 = 25050+12000-2300.

FAQ

What is Gross Domestic Product at Factor Cost?

Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced in a country during a specific time duration, typically a year, after accounting for the cost of intermediate consumption and before accounting for indirect taxes and subsidies and is represented as GDP_fc = GDP_mp+S_s-IT or Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes. Gross Domestic Product at Market Price is a measure of the total value of all final goods and services produced within a country's borders during a specific time period, Subsidies are financial assistance provided by the government to individuals, businesses, or industries to support or promote certain activities, goods, or services & Indirect Taxes are the taxes imposed by the government on goods and services rather than on individuals or businesses directly.

How to calculate Gross Domestic Product at Factor Cost?

Gross Domestic Product at Factor Cost is a measure of the total value of all goods and services produced in a country during a specific time duration, typically a year, after accounting for the cost of intermediate consumption and before accounting for indirect taxes and subsidies is calculated using Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes. To calculate Gross Domestic Product at Factor Cost, you need Gross Domestic Product at Market Price (GDP_mp), Subsidies (S_s) & Indirect Taxes (IT). With our tool, you need to enter the respective value for Gross Domestic Product at Market Price, Subsidies & Indirect Taxes and hit the calculate button. You can also select the units (if any) for Input(s) and the Output as well.

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