What do you mean by the account of economic social and political consideration?
Answers
Answered by
1
‘Social Accounting’ is a wider concept and embraces ‘national income accounting’; as such it is concerned with the statistical classification of the activities of human beings and institutions in ways which help us to understand the operation and the working of the economy as a whole. It also includes the application of the information thus gathered to the investigation of the operation of the economic system.
In other words, national income and social accounts are no more than measurements of production and investment arranged in such a way as to stress the distinction between the decisions of people concerned with, on the one hand, the production of commodities, and on the other the consumption of what has been produced. All types of transactions, real or financial, national or international, big or small that take place in the economy are properly recorded in the system of social accounts.
In other words, national income and social accounts are no more than measurements of production and investment arranged in such a way as to stress the distinction between the decisions of people concerned with, on the one hand, the production of commodities, and on the other the consumption of what has been produced. All types of transactions, real or financial, national or international, big or small that take place in the economy are properly recorded in the system of social accounts.
Similar questions