NNP at factor cost = NNP at market price - Indirect taxes + subsidies
NNP at market price= GNP at market price - Depreciation
Put the NNP at market price in first formula
1. Product Method 2. Income Method 3.Expenditure Method 1. Product Method - Money value of All final Goods & Service in current year. 2. Income Method - measured the flow of factors incomes. Generally four factors- production labour, capital, land and entrepreneurship In case of self employed person, their own labour and expenditure s. called mixed income. Sum of above all factors income is called NDP at factor cost. 3. Expenditure Method - Measured by flow of expenditure.
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