Production taxes and Production Subsidies
Production taxes or production subsidies are paid or received with relation to production and are independent of the volume of …
Read MoreGVA vs GDP
Gross value added (GVA) is defined as the value of output less the value of intermediate consumption. It is used to …
Read MoreGross Value Added
Gross value added (GVA) from the angle of national income accounting is the measure of the value of goods …
Read MoreSystem of National Accounting (SNA)
The SNA is the most accepted and globally followed national income accounting format prepared by the UN and ratified by …
Read MorePurchasing Power Parity
Purchasing power parity is defined as the number of units of a country’s currency required to buy the same …
Read MoreNew approach to development
The new development approach tells that development is not just increase in GDP or Per Capita income. For them, economic …
Read MoreStructural Retrogression
Structural retrogression is a backward feature of a developing economy that is featured by poor structural changes. For example, …
Read MoreOccupational Structure
Occupational structure of an economy shows how many percentage of the total workforce are employed in different sectors viz., …
Read MoreSectoral distribution of income
The sectoral distribution of income shows the percentage distribution of national income or GDP among different sectors viz., agriculture …
Read MoreCapability Approach
The Capability Approach to development was pioneered by Amartya Sen. He defines capabilities as “the freedom that a person has …
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