GDP, GNP, NNP | Factor Cost & Market Price | Indian Economy | UPSC Prelims | Adil Baig
HTML-код
- Опубликовано: 9 мар 2022
- This is the fourth Session of Indian Economy Fundamental concepts series. In this video Mr.Adil Baig, Explains the Difference between
GDP, GNP, NNP; Concepts like Factor Cost, Market Price and GVA at Basic Prices.
Topics Discussed in Video:
00:28 - Introduction
02:23 - Agenda
03:31 - What is GDP (Recap)
06:13 - GNP - Gross National Product
13:31 - NNP - Net National Product
26:02 - Factor Cost & Market Price
40:00 - Basic Prices
46:37 - Production Tax & Production Subsidies
54:50 - Formulae for FC, MP, BP
#upsc #gdp
![Baby Kia - WYG (feat. LAZER DIM 700) [Official Music Video]](http://i.ytimg.com/vi/avlLsOH_oJc/mqdefault.jpg)
தெய்வமே நன்றிகள் கோடி❤
very helpfull for all aspirants sir thanks sir
Thank you so much sir.....👏🏻👏🏻👏🏻
Thank you sir 💕💕
Thank you sir 🙏🏻✨
Sir... Clarify this doubt... presently For sector wise estimates we follow basic price and for GDP we follow market price... I understood this from the internet... Is this right ?
Sir in gnp we only count the goods which has been produced by the depreciated machines, then why do have to measure the depreciation of machines again.
@curiousadhil Sir.. is gdp and national income are same?
Verynice lecture sir
thank you sir
Super sir
Concept clarity . ..thank u sir...
Good evening Sir, please tell the date of entrance examination result
Adil sir,u explained very clear cut. Thanks
GDP of the country=?
NNP@bp NNP@mp
Sir, transportation of goods from one place to other is also a factor for difference in the value between market price and factor cost??
I think , transportation is complex method to calculate, so it is eliminate ( in the concept of macro economic model )
That's also included in "supply chain"
Very much clear sir
What is the difference between NNP @ Bp and NNP @ FC deriving from NNP @MP?
NNP@BP is about the production tax &production subsidy whereas NNP@FC is about product tax & product subsidy . There it was production ,here it is product , I hope you would understand it , BTW you asked it an year ago LMAO 😁
Thank you sir🙏👌
Mass sir❤🔥
Sir, why production taxes are not subtracted in factor cost? Only product taxes are subtracted...
Because in factor cost and market price we only take product tax and product subsidy but basic price we take both product and production tax and subsidy
Factor cost never included taxes or subsidies. Its the absolute value of summation of factors of production values.
Sir economics mains question vachu intha mathri explain kudukanum koncham solunga sir
Good morning sir
Thanks 🙏
one doubt sir, factor cost includes rent given to land owners, wages to labourers, salaries to employees, interest to creditors, but why profits, profits should not be added to factor cost (cost of production) right ???
Yes , Profit earned by the Entrepreneur could not be added to the factor cost for the GDP calculation.
I think entrepreneur also came from house holding,so profit given to householding also an expenditure to firms ,,in this case we assume labour,worker,land owner and entrepreneur are members of householding,,so their income was expenditure to firms,,so profit also factor cost,,,If iam wrong kindly make me understand..
@@blackpanther6313 sir
sir kindly upload the videos in fast manner
Thank u sir
Why do we need to calculate the NNP and what is the importance of it?
GNP is needed because, we need to know the national performance, GDP has foreigners located in India
NNP is calculated to factor out the depreciation effect.
Wear and tear causes fall in productivity of capital goods, hence efficiency of production is affected, so we factor in fall in productivity by subtracting depreciation.
Its just accounting technique.
@@CuriousAdil thank you sir
Sir , if the basic price change every year are it remain same?
It will change.
@@CuriousAdil Sir topics cover pannara apo previous year questions antha topic la epdi ketrukanganu relate panni nadathunga analysis panrathu easy ya Irukum sir
@@moviesclub65 Yeah Sure.
Sir give with defintion
Have a doubt in factor cost. While fixing a market price, the firm's will not took account of the subsidies for the sake of profit right???
Absolutely, they won't explicitly show it in their Market price, but still the Market price can become lower.
The factors which won't let them to reflect the subsidy fully , can be : demand, market competition,Profit objectives and other business considerations .
Sir, in ( NNP at factor cost= national product OF Market Price - indirect tax + subsidies.) Why they are not take direct tax ? why only indirect tax ?
I think for the final goods and services we are paying only GST or vat. We didn't pay the customs or excise duty. Hence it is indirect tax
@@vaishnavikarthika1777 I think you should study the difference between direct and indirect tax , even Excise duty and Custom duty are indirect taxes.
Direct Taxes: Direct taxes are taxes imposed directly on individuals or entities, and they are not directly related to the production or consumption of specific goods or services. Examples of direct taxes include income tax, corporate tax, and property tax. These taxes are not part of the factor cost because they are not tied to the production process or the price of a particular product. Instead, they are based on the income, profits, or assets of individuals or businesses.
In summary, the conversion from Factor Cost to Market Price involves adding indirect taxes (which are related to the production and consumption of goods and services) and subtracting subsidies (which reduce the cost of goods and services for consumers). Direct taxes are not included in this conversion because they are not directly linked to the production process and do not affect the price of a specific product.
Basic price measure price of the good just before it enter the market. As soon as the good enter the market indirect taxes and subsidy would be levied
Thank you Sir❤