Own account production of services is not included in national income because:
A .Services are different from goods
B. Services are not productive
C. It is difficult to measure market value of such services
D. None of these

Services are different from goods

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Services are not productive

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It is difficult to measure market value of such services

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None of these

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Solution

The correct option is C. It is difficult to measure market value of such services. Market value cannot be estimated for these services.

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Similar questions

Consider the following statements: -

1. National disposable income includes Net National Product at Market prices only.

2. GDP is a measure of National Income/ National output and National expenditure produced in a particular country.

3. GNP includes the value of all goods and services produced by nationals whether in the country a abroad.

4. GNP does not include dividends and interest from abroad in Income.

Which of the above statements is are correct?

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