Question

write down three precautions of value added method, income method and expenditure method?​

Answer 1

Answer:

Cost of intermediates good can't be counted in final goods.

Second hand goods and services are not a subject to be marked with MSP.

Value added goods should include all the printed cost included in it.

Answer 2

Answer:

The various precautions to be taken in Value Added Method are: 1. Intermediate Goods are not to be included in the national income since such goods are already included in the value of final goods. If they are included again, it will lead to double counting.

Explanation:

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