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Meanings
1
factor cost
Economic term referring to the cost of production inputs (land, labor, capital) before adding indirect taxes or subtracting subsidies.
When GDP is valued at factor cost, the figure differs from market prices.
factor cost
Economic term referring to the cost of production inputs (land, labor, capital) before adding indirect taxes or subtracting subsidies.
When GDP is valued at factor cost, the figure differs from market prices.