Value Added Method of calculating aggregate annual value of goods and services is also called : Option 1: Product Method Option 2: Income Method Option 3: Expenditure Method Option 4: Cost and Revenue Method

The answer is 'Product Method'. View full solution:

CUET Economics - Value Added Method of calculating aggregate annual value of goods and services is also called : | PYQs + Solutions

CUET Economics

Macro

Easy

Product Method

Income Method

Expenditure Method

Cost and Revenue Method

✅ Correct Option: 1

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What is required to be added to Net National Product at market prices to obtain National Disposable Income?

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A farmer produces cotton in his farm and sells it to the yarn making firm at Rs 2500. The yarn making firm sells this yarn to the cloth mill for Rs 4000, who make cloth from it and this cloth is sold to a readymade garments factory for Rs 6500. The ready made garments factory sells the garments to the retailer for Rs 9000 and makes a profit of Rs 2000.

Assuming that the farmer does not incur any intermediate cost, what will be total value added in the above process?

CUET Economics PYQs

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