NNP at factor cost is the sum of incomes earned by factors of production (wages, rent, interest, profit) belonging to a country during a year, and includes Net Factor Income from Abroad (NFIA). Option 1 refers to domestic income, option 3 refers to NNP at market price, and option 4 is incorrect.
Net National Product at factor cost (NNPFC) is defined as :
CUET UG 2023 — Economics Macro
2023mcqmedium
Net National Product at factor cost (NNP_FC) is defined as :
Official previous-year question
Verified 13 Jul 2026.
Options
- A
Value of output received by the factors of production belonging to a country in a year
- B
The sum of the income earned by all factors in the production in the form of wages, profit, rent and interest etc. belonging to a country during a year. It includes net factor income from Abroad
- C
The value of all final goods and services produced by the normal residents of country
- D
The Gross domestic product at market price less net product taxes
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