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Net Domestic Product at Factor Cost Formula

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Net Domestic Product at Factor Cost is an economic indicator that measures the value of all goods and services produced within a country's borders during a specific time period. Check FAQs

NDP fc = NDP mp - NIT

NDP_fc - Net Domestic Product at Factor Cost?NDP_mp - Net Domestic Product at Market Price?NIT - Net Indirect Taxes?

Net Domestic Product at Factor Cost Example

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Here is how the Net Domestic Product at Factor Cost equation looks like with Values.

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

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

20550 = 23550 - 3000

20550 = 23550 - 3000

20550 = 23550 - 3000

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Net Domestic Product at Factor Cost Solution

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

FIRST Step Consider the formula

NDP fc = NDP mp - NIT

Next Step Substitute values of Variables

∴

NDP fc = 23550 - 3000

Next Step Prepare to Evaluate

∴

NDP fc = 23550 - 3000

LAST Step Evaluate

∴

NDP fc = 20550

Net Domestic Product at Factor Cost Formula Elements

Variables

Net Domestic Product at Factor Cost

Net Domestic Product at Factor Cost is an economic indicator that measures the value of all goods and services produced within a country's borders during a specific time period.

Symbol: NDP_fc

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Net Domestic Product at Factor Cost

Net Domestic Product at Market Price

Net Domestic Product at Market Price is an economic indicator that measures the value of all goods and services produced within a country's borders during a particular time period, minus depreciation.

Symbol: NDP_mp

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Net Domestic Product at Market Price

Net Indirect Taxes

Net Indirect Taxes refers to the difference between indirect taxes collected by the government on the production and sale of goods and services and subsidies provided by the government to producers.

Symbol: NIT

Measurement: NAUnit: Unitless

Note: Value should be greater than 0.

Formulas to find Net Indirect Taxes

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RW = \frac{NW}{CPI}

How to Evaluate Net Domestic Product at Factor Cost?

Net Domestic Product at Factor Cost evaluator uses Net Domestic Product at Factor Cost = Net Domestic Product at Market Price-Net Indirect Taxes to evaluate the Net Domestic Product at Factor Cost, Net Domestic Product at Factor Cost is a measure of the total income earned by factors of production within the domestic economy, excluding the impact of taxes and subsidies on the final prices of goods and services excluding taxes. Net Domestic Product at Factor Cost is denoted by NDP_fc symbol.

How to evaluate Net Domestic Product at Factor Cost using this online evaluator? To use this online evaluator for Net Domestic Product at Factor Cost, enter Net Domestic Product at Market Price (NDP_mp) & Net Indirect Taxes (NIT) and hit the calculate button.

FAQs on Net Domestic Product at Factor Cost

What is the formula to find Net Domestic Product at Factor Cost?

The formula of Net Domestic Product at Factor Cost is expressed as Net Domestic Product at Factor Cost = Net Domestic Product at Market Price-Net Indirect Taxes. Here is an example- 20500 = 23550-3000.

How to calculate Net Domestic Product at Factor Cost?

With Net Domestic Product at Market Price (NDP_mp) & Net Indirect Taxes (NIT) we can find Net Domestic Product at Factor Cost using the formula - Net Domestic Product at Factor Cost = Net Domestic Product at Market Price-Net Indirect Taxes.

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Net Domestic Product at Factor Cost Formula

Net Domestic Product at Factor Cost Example

Net Domestic Product at Factor Cost Solution

Net Domestic Product at Factor Cost Formula Elements

Other formulas in Macroeconomics category

How to Evaluate Net Domestic Product at Factor Cost?

FAQs on Net Domestic Product at Factor Cost

Variable Name