Question

Name the different methods to calculate national income ?
Please give answers in ur own words.
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Answer 1

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. ... The money value is calculated at market prices so sum-total is the GDP at market prices

National Output = National Expenditure (Aggregate Demand) = National Income.

The Expenditure Method - Aggregate Demand (AD)

GDP = C + I + G + (X-M) where.

The Income Method – adding together factor incomes.

Answer 2

National Income:-

It measures the monetary value of flow of outputs of goods and services produced in an economy over a period of time.

Different Methods:-

=> Expenditure method

=> Income method

=> Value added method

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