State any two precautions which must be taken while estimating national income by income method
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Precautions of Product Method:
Avoid double counting.
Production from illegal activities is not to be included.
Value of services rendered by housewives/family members is not to be included.
Detailed Answer:
Precautions:
(i) Include the value of final product only.
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Precautions of Product Method:
Avoid double counting.
Production from illegal activities is not to be included.
Value of services rendered by housewives/family members is not to be included.
Detailed Answer:
Precautions:
(i) Include the value of final product only.
If my ans is helpful for u than please like follow or mark me as Brainliest I will be thankful to you
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