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Definition: Net value added at factor cost
Category: National accounts
Net value added at factor cost (defined as net value added at basic prices less other taxes on production plus other subsidies on production) measures the remuneration of all factors of production (land, capital, labour) and can be termed "factor income", as it represents all the value generated by a unit engaged in a production activity. http://ec.europa.eu/eurostat/ramon/statmanuals/files/KS-27-00-782-__-I-EN.pdf
Source:
Eurostat, "Manual on the economic accounts for agriculture and forestry EAA/EA 97 (Rev. 1.1)", Luxembourg, 2000
Eurostat, "Manual on the economic accounts for agriculture and forestry EAA/EA 97 (Rev. 1.1)", Luxembourg, 2000
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