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CBSE 2016 Class 12 Economics Delhi Set-1

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Question : 6 of 18
Marks: +1, -0
Find net value added at factor cost :
(₹ Lakh)
 (i)  Durable use producer goods with a life span of 10 years  10
 (ii)  Single use producer goods  5
 (iii)  Sales  20
 (iv)  Unsold output produced during the year  2
 (v)   Taxes on production  1
Solution:  
Value of output = sales + change in stock
=20+2=22   lakh.   =20+2=22 \;\text{ lakh. }\;
Gross value added at market price == value of output-intermediate consumption (single use producer goods)
=22−5=17   lakh.   =22-5=17 \;\text{ lakh. }\;
Depreciation =(=( Cost of producers good ÷\div no. of life in years)
=(10÷10)=1=(10 \div 10)=1
Net Indirect taxes == Taxes on production - subsidy
=1−0=1=1-0=1
Net value added at FC=GVA∓−FC= GVA \mp- Depreciation - Net indirect taxes
  =17−1−1\;=17-1-1
  =₹15   lakhs.   \;=\text{₹} 15 \;\text{ lakhs. }\;
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