Question

what is national income ? And how it is caculated ?​

Answer 1

Answer:

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Explanation:

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Answer 2

Answer:

National Income : It is the net monetary value of all final goods and services produced in an economy during a financial year.

methods of calculation :

1. Production method/value added method :

value of output=sales +change in stock (change in stock = closing stock - opening stock) = GVAmp

NVAmp : GVAmp - depreciation

NNPfc(national income) : NVAmp+NFIA-NIT

2. Income Method : NNPfc : CE+OS+MISE+NFIA

OS include profit, interest rent etc

CE include wages in cash and kind

3. expenditure method:   NNPfc : C + G + I + X  - DEPRECIATION + NFIA  -NIT

Explanation: