describe brifly income method and consumption method
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Explanation:
Income Method: A person is considered poor if his or her income falls below a given minimum level necessary to fulfil basic needs.
Consumption Method: A minimum nutrititioal food requirement for survival is estimated and energy obtained is measured in calories. The accepted average of calory requirement in India.
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The Income Method measures national income from the side of payments made to the primary factors of production in the form of rent, wages, interest and profit for their productive services in an accounting year. ... Hence, value of national income method should be the same as the one calculated by value added method.
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