taking care of aged parents is included in national income or not
Answers
Answered by
5
Hey ur answer is...
Taking care of aged parents can be in the form of showing affection and respect towards them, cooking eatables for them, paying their medicine bills, funding them to visit different temples, etc. Now, those components of the 'care' that can be monetised are included in national income as payments are being made so that parents can consume final goods & services. Similarly, those components of care that cannot be monetised are not included in national income as they are only intended to show love, affection and respect to the parents and, no factor goods & services are purchased to do the same.
Hope this is Helpful...✔✔✔✔
Taking care of aged parents can be in the form of showing affection and respect towards them, cooking eatables for them, paying their medicine bills, funding them to visit different temples, etc. Now, those components of the 'care' that can be monetised are included in national income as payments are being made so that parents can consume final goods & services. Similarly, those components of care that cannot be monetised are not included in national income as they are only intended to show love, affection and respect to the parents and, no factor goods & services are purchased to do the same.
Hope this is Helpful...✔✔✔✔
Answered by
1
Taking care for the aged is not included in the national income. Therefore it is the Non Governmental Organizations that has taken the role of taking care and caring for the aged. These non governmental organizations obtain the resources from the well wishers, red cross and the United Nation as to enable the facilitation of this activities. The employees enabling this activities require capital for their pay .
vic
Similar questions