Question

introduction for measurement of national income
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Answer 1

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In product approach, national income is measured as a flow of goods and services. Value of money for all final goods and services is produced in an economy during a year. ... In our economy product approach benefits various sectors like forestry, agriculture, mining etc to estimate gross and net value.

Answer 2

Answer:

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There are three ways of measuring the National Income of a country. They are from the income side, the output side and the expenditure side. Thus, we can classify these perspectives into the following methods of measurement of National Income.

Methods of Measuring National Income

Product Method

Income Method

Expenditure Method

Explanation:

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