Question

5) Aspects considered in National Income:
a) Final goods and services are included in
national income.
b) Produced goods and services in a financial year
are included in national income.
c) Double counting is avoided.
d) Value is considered as per market price.
Options : 1) a and c
2) b and c
3) a, b and d
4) a, b, c and d​

Answer 1

Answer:

Option A is correct

Final goods and services are included in National Income

Explanation:

National Income is the total value of the goods and services manufactured or produced by a country during one fiscal year. It can be defined as the net result or net income of a country during the period of a year.

While calculating National Income, the value of goods and services is calculated.