Question

7. Given a table of population growth for period between 1971 and 2001 and table of contribution of
agriculture, industry and services sector for the same period, compare the two tables and present your
findings in the form of a presentation.​

Answer 1

Table of contribution of agriculture, industry and service sector

Explanation:

The income approach defines GDP in terms of the income derived or created from producing final goods and services.  

Net Domestic Income at factor cost =   Labour Income +  Enterprises before taxes +  Interest and Investment Income +  Unincorporated Businesses

Net Domestic Income at factor cost =Wages, Salaries, and Supplementary Labour Income +Profits of Corporations and Govt.Enterprises before taxes +Interest and Investment Income +Net Income from Farms and Unincorporated Businesses +Taxes (less) subsidies on factors of production.