Factor Cost, Basic Prices and Market Prices | UPSC Economy Notes
Understand factor cost, basic prices and market prices for UPSC. Learn GVA at basic prices, GDP at market prices, production taxes, product taxes and key formulae.
Understand factor cost, basic prices and market prices for UPSC. Learn GVA at basic prices, GDP at market prices, production taxes, product taxes and key formulae.
Understand National Income Accounting for UPSC. Learn GDP, GNP, NFIA, NNP, NDP, Personal Income, Personal Disposable Income and key national income formulae with examples.
Understand investment in economics for UPSC. Learn gross investment, net investment, gross capital formation, depreciation, imports, exports and inventory with simple examples.
Understand the sectors of economy for UPSC. Learn primary, secondary, tertiary, quaternary and quinary sectors with meaning, examples, activities and importance.
Understand factors of production for UPSC and civil services exams. Learn the meaning of land, labour, capital and entrepreneurship, their rewards, examples, importance and exam relevance.
Understand the different types of goods in economics including intermediate goods, final goods, consumption goods, capital goods, consumer durables, examples, and their role in GDP and national income.
Learn about the Four Sectors of Economy—Household Sector, Private Sector, Government Sector, and External Sector, their functions, examples, and role in macroeconomics for UPSC preparation.
Learn about Mixed Economy, its features, advantages, disadvantages, and the role of government and private sector in India for UPSC Economy preparation.