Question:
What do you mean by 'Gross Domestic Product at Factor Cost'?
What do you mean by 'Gross Domestic Product at Factor Cost'?
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GDP at Factor Cost = GDP at Market Price - (Indirect Taxes + Subsidies).
Updated On: Nov 5, 2025
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Solution and Explanation
Gross Domestic Product (GDP) at Factor Cost refers to the total monetary value of all goods and services produced within a country's boundaries during a given period, measured at the cost of factors of production, such as wages, rent, and profit. It excludes taxes and subsidies on products.
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