Q. In India National Income is calculated by the method which is known as
Solution:
-
In India, National Income is calculated by the combined method.
-
It combines two methods i.e product or output method and the income method.
-
This is done to overcome the problem of deficiency of statistics.
-
The product method endeavours to find out the net contribution to national income of all producing units.
-
The income method adds up income and payments accruing of factors of production.
-
This method is used in the tertiary sector like government services banking etc and also in the commoity sector if output data is not available.
Related Questions
Q. The system of ‘Ombudsman’ was first introduced in?
View SolutionQ. National Extension Service(NES) is launched during which five-year plan period?
View SolutionQ. What is ‘Dow Jones’?
View Solution
Get Question Bank
Strengthen Your Practice with our comprehensive question bank.
