Question

1. Explain the product method of estimating national income
2. Explain the income method of estimating national income
on of estimating
venditure method of estima​

Answer 1

Answer:

Product Method:

In this method, national income is measured as a flow of goods and services. We calculate money value of all final goods and services produced in an economy during a year. Final goods here refer to those goods which are directly consumed and not used in further production process.

2) Under expenditure method national income is calculated first by adding up all the items of final consumption expenditure and final investment expenditure within the domestic economy The resulting total is called GDP at MR By subtracting depreciation and net indirect taxes from GDP at MP and adding to its net factor ...

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