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SubjectsEconomics
राष्ट्रीय आय की गणना की विधियाँ – मूल्य वर्धित/उत्पाद विधि
In this Class 12 Economics topic from the chapter “National Income and Related Aggregates,” students learn how national income is estimated through the Value Added or Product Method. The topic explains how to measure the value of final goods and services produced by different sectors, calculate value added at each stage of production, and avoid double counting of intermediate goods. It also connects production data with aggregates such as GDP and helps students understand the role of primary, secondary, and tertiary sectors in national income accounting.
TOPIC PRACTICE
Up to 4 questions from this page. Select your focus, then start.
The value of output includes both goods sold and the change in inventories. The formula is value of output = sales + change in inventories. Therefore, value of output = 620 + 80 = 700 lakh rupees. The increase in inventories represents current production that has not yet been sold.
The production method obtains total NDP by adding the net value added generated by all producing sectors, provided the figures are measured on the same basis. The calculation is 340 + 280 + 460 + 320 = 1400 crore rupees. Hence, option B is correct. The other options arise from arithmetic errors or omission of one sector.
Gross value added is calculated by subtracting intermediate consumption from the value of output: ₹500 lakh − ₹300 lakh = ₹200 lakh. Net value added is obtained by deducting depreciation from gross value added: ₹200 lakh − ₹40 lakh = ₹160 lakh. Therefore, the firm's net value added at market price is ₹160 lakh, making option B correct.
GDP is a macroeconomic measure of the market value of final goods and services produced within a country’s domestic territory during a specified period, usually a year or quarter. Option A is correct because it includes both the territorial boundary and final output, avoiding double counting of intermediate goods. Happiness, income distribution, and environmental quality are important welfare concerns, but GDP does not measure them directly or completely.
QUIZ COMPLETE
