define national income. explain the relationship the between national income?
Answers
Answer:
Income earned by the entire nation.
Explanation:
It is the product of per capita income and the population of a country.
✓heya friend✓
here's your answer ↙️
The country's national income is the financial value of production in the field of agriculture, industry and services in the country during the year.
➡️Three economists give definition of national income, which are as follows⬅️
⏩Alfred Marshall:
During the year, the physical and material items produced in collaboration with the natural resources of the country's labor and capital are called national income.
⏩Irving Fisher:
According to the national income according to the amount of services and the direct consumption of the services of the country's citizens during the year.
⏩a.c.pigu:
Common things and services are those that have been paid by money.It can be easily presented in money.
☺️ hope it help you ☺️
______________________