Question

VI. WRITE IN DETAIL ANSWER
1.) Briefly explain various terms associated with
measuring of national income,​

Answer 1

Answer:

Introduction:

National income is an uncertain term which is used interchangeably with national dividend, national output and national expenditure. On this basis, national income has been defined in a number of ways. In common parlance, national income means the total value of goods and services produced annually in a country.