Mention the bases of the concept of national income.
Answers
Answered by
2
Answer:
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. There are various concepts of National Income, such as GDP, GNP, NNP, NI, PI, DI, and PCI which explain the facts of economic activities.
HOPE THIS HELPS YOU
PLZ FOLLOW ME
Similar questions