Gross Domestic Product at Factor Cost Formula

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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. Check FAQs
GDPfc=GDPmp+Ss-IT
GDPfc - Gross Domestic Product at Factor Cost?GDPmp - Gross Domestic Product at Market Price?Ss - Subsidies?IT - Indirect Taxes?

Gross Domestic Product at Factor Cost Example

With values
With units
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Here is how the Gross Domestic Product at Factor Cost equation looks like with Values.

Here is how the Gross Domestic Product at Factor Cost equation looks like with Units.

Here is how the Gross Domestic Product at Factor Cost equation looks like.

34750Edit=25050Edit+12000Edit-2300Edit
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Gross Domestic Product at Factor Cost Solution

Follow our step by step solution on how to calculate Gross Domestic Product at Factor Cost?

FIRST Step Consider the formula
GDPfc=GDPmp+Ss-IT
Next Step Substitute values of Variables
GDPfc=25050+12000-2300
Next Step Prepare to Evaluate
GDPfc=25050+12000-2300
LAST Step Evaluate
GDPfc=34750

Gross Domestic Product at Factor Cost Formula Elements

Variables
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.
Symbol: GDPfc
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
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.
Symbol: GDPmp
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Subsidies
Subsidies are financial assistance provided by the government to individuals, businesses, or industries to support or promote certain activities, goods, or services.
Symbol: Ss
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.
Indirect Taxes
Indirect Taxes are the taxes imposed by the government on goods and services rather than on individuals or businesses directly.
Symbol: IT
Measurement: NAUnit: Unitless
Note: Value should be greater than 0.

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How to Evaluate Gross Domestic Product at Factor Cost?

Gross Domestic Product at Factor Cost evaluator uses Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes to evaluate 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 GDPfc symbol.

How to evaluate Gross Domestic Product at Factor Cost using this online evaluator? To use this online evaluator for Gross Domestic Product at Factor Cost, enter Gross Domestic Product at Market Price (GDPmp), Subsidies (Ss) & Indirect Taxes (IT) and hit the calculate button.

FAQs on Gross Domestic Product at Factor Cost

What is the formula to find Gross Domestic Product at Factor Cost?
The formula of Gross Domestic Product at Factor Cost is expressed as Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes. Here is an example- 34750 = 25050+12000-2300.
How to calculate Gross Domestic Product at Factor Cost?
With Gross Domestic Product at Market Price (GDPmp), Subsidies (Ss) & Indirect Taxes (IT) we can find Gross Domestic Product at Factor Cost using the formula - Gross Domestic Product at Factor Cost = Gross Domestic Product at Market Price+Subsidies-Indirect Taxes.
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