Gross value added at basic prices =

GVA at market price + product taxes − product subsidiesCorrect answerYour answerGVA at factor cost − depreciationCorrect answerYour answerGVA at market price + NFIACorrect answerYour answerGVA at factor cost + production taxes − production subsidiesCorrect answerYour answer

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CorrectNot quiteAnswer D

Correct answer: D

Basic prices sit between factor cost and market price.
From factor cost, add net production taxes to reach basic prices; then add net product taxes to reach market price.

Concept: Basic prices
Typical timeTypical: 70 s
Your timeYours: —

The rule this testsMarket price, factor cost and basic prices

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Gross value added at basic prices =

Explanation