explain Three methods of Measurement of National Income.
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In using the output method in India, the “value added” approach has been adopted. We know that the “value added” is equal to the value of goods minus the cost of production. In other words, this concept measures the net contribution to national income of a producing unit.
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the national income of a country can be measured by three alternative methods:
1. product method
2. income method
3. expenditure method
product method :in this method , national income is measured as a flow of goods and services.
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