factor cost


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Factor Cost

The market value of a good or service at the retail level. The factor cost is equal to the price the customer pays, less any taxes (such as a VAT or a sales tax), and plus any subsidies the customer receives from the government.

factor cost

the value of goods and services produced, measured in terms of the cost of the FACTOR INPUT (materials, labour, etc.) used to produce them, that is, excluding any indirect taxes levied on products and any subsidies offered on products. For example, a product costing £10 to produce (including profit) and with a £1 indirect tax levied on it would have a market price of £11 and a factor cost of £10. See FACTORS OF PRODUCTION.
References in periodicals archive ?
In 2016 the value added at factor cost in the Industry amounted to BGN 19 271 million at current prices, which formed 39.
Virtuous Cycle:- States with high HDI as well as high Per Capita NSDP at factor cost and constant prices.
The third elements factor cost subsystem has two indicators, namely "average wage (X7) and fixed asset investment in the proportion of loans to finance (X8)".
1###Gross Domestic Product at Constant Factor Cost Pakistan (Overall)
Now, the GDP at market prices is just GDP at factor cost plus taxes minus subsidies.
2) The real income of factors in agriculture, per annual work unit, corresponds to the real net value added at factor cost of agriculture, per total annual work unit.
2] In one or more input markets, including the labor market, the firm is assumed to perceive that a rising supply price causes marginal factor cost to exceed average factor cost.
Industrial structure of GDP at factor cost series on the SIC 1980 basis.
Net domestic product at factor cost 408 836 430 077 446 197
Gross domestic product at factor cost 328 576 349 544 353 314 369 645
9) Similarly, in a centrally planned economy, should we use some adjusted factor cost prices as the benchmark or use shadow prices based on input-output tables?
The first called simply net national product at factor cost, is evaluated as