Methods of measuring national income
Answers
Answer:
3 Important Methods for Measuring National Income
Product Method: In this method, national income is measured as a flow of goods and services. We calculate money value of all final goods and services produced in an economy during a year. ...
Income Method: Under this method, national income is measured as a flow of factor incomes. ...
Expenditure Method: ADVERTISEMENTS:
Explanation:
there are three methods of measuring national income they are output method or product method income method and expenditure method
national income can be looked in any one of the three ways as the national income measured by adding up everybody is output by adding up everyone's income and by adding up the value of all things that people by adding their savings
