Question

Q. 4. define national income. explain the relationship between national income

Answer 1

✔️heya friend ✔️

$\bold{ANSWER}$

The country's national income is the financial value of production in the field of agriculture, industry and services in the country during the year.

✅Three economists give definition of national income, which are as follows✅

⏩Alfred Marshall:
During the year, the physical and material items produced in collaboration with the natural resources of the country's labor and capital are called national income.

⏩Irving Fisher:
According to the national income according to the amount of services and the direct consumption of the services of the country's citizens during the year.

⏩a.c.pigu:
Common things and services are those that have been paid by money.It can be easily presented in money.

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