factor cost meaning in simple words Factor cost It is the total cost of all the factors of production consumed or used in producing a good or service Basic price Basic price is the amount receivable by the producer from
FACTOR COST definition the cost of producing something based on the cost of what is needed to produce it for example Learn more Factor cost or national income by type of income is a measure of national income or output based on the cost of factors of production instead of market prices This allows the effect of any subsidy or indirect tax to be removed from the final measure The concept of factor cost is focusing on the cost incurred on the factor of production It can be defined as the actual cost incurred on goods and services produced by industries and firms is kn
factor cost meaning in simple words
factor cost meaning in simple words
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Definition of Factor Cost Factor cost refers to the cost of all the inputs used in the production of goods and services It is essentially the cost incurred by a business Factor cost refers to the total cost of all the input elements or resources such as labor capital and raw materials used in producing a good or service It
Factor cost is so called because the value of output at factor cost is the amount available to pay for bought in inputs and for the services of the factors of Factor cost in British English noun in social accounting valuation of goods and services at their overall commercial cost including markups but excluding indirect taxes and
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Factor cost definition in social accounting valuation of goods and services at their overall commercial cost including markups but excluding indirect taxes and subsidies See The total cost incurred in deploying all factors that led to the production or generation of goods and commodities available in the market is known as factor cost Basic Price It is
Factor cost refers to the total expenses incurred in producing goods and services including payments to factors of production like labor capital land and Factor cost meaning definition what is factor cost a cost related to a FACTOR OF PRODUCTION Learn more
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factor cost meaning in simple words - Factor cost is so called because the value of output at factor cost is the amount available to pay for bought in inputs and for the services of the factors of