Question

National  Income  of a  country  can  be  calculated  by
a)  2  methods b)  3  methods c)  4  methods d)  5  methods

TNSCERT Class 10 Economics Ch 1 National Income

Answer 1

National income of a country can be calculated by d) 5 methods.

These methods are following:

1. Income can be measured by Gross National Product (GNP),

2. Gross Domestic Product (GDP),

3. Gross National Income (GNI),

4. Net National Product (NNP) and

5. Net National Income (NNI)

In India, the Central Statistical Organization has been formulating national income.

It broadly indicates the people’s standard of living and helps in knowing the progress of the country.