Question

what is national income?​

Answer 1

Answer:

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National Income is total amount of goods and services produced within the nation during the given period say, 1 year. It is the total of factor income i.e. wages, interest, rent, profit, received by factors of production i.e. labour, capital, land and entrepreneurship of a nation. Concepts of National Income

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Answer 2

Answer:

• It is defined as the total amount of goods and services produced within a country in a given period of time.

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