Question

define national income and their factor​

Answer 1

Answer:

National Income is total amount of goods and services produced within the nation during the given period say, 1 year. It is the total of factor income i.e. wages, interest, rent, profit, received by factors of production i.e. labour, capital, land and entrepreneurship of a nation.

Explanation:

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Answer 2

Answer:

The income of whole country is called national income

National income is the total amount of goods and services produced within the nation during the given period say, 1 year

factors:

labour

capital

land and

entrepreneur ship of nation

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