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National income 1.pptx

1. Apr 2023
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National income 1.pptx

  1. National Income By Dr.Neerja sharma
  2. National income • National income is referred to as the total monetary value of all services and goods that are produced by a nation during a period of time. In other words, it is the sum of all the factor income that is generated during a production year. National income serves as an indicator of the nation's economic activity. • The Total amount of income Accuring To a country from Economic Activity in a year Time is known as nation income
  3. GDP = private consumption + gross private investment + government investment + government spending + (exports – imports). GDP is usually calculated by the national statistical agency of the country following the international standard. GDP provides an economic snapshot of a country, used to estimate the size of an economy and its growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes and it can be adjusted for inflation and population to provide deeper insights.
  4. NET FACTOR COST The income on the first three factors of production (Compensation of Employees, Rent and Investment Income) flow into and out of a country. The net is the total inflows less the total outflows. GDP at Factor cost is the total value of goods and commodities produced in a year in a country by its all-production units.
  5. Class test
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