production of services for self consumption like of housewife is not included in estimation of national income.
suppose A is doctor and his children fell sick and he provides his service by treating the patient that is his children. will it be included or not
if yes then why as services for self consumption are not included in national income.
if no then why as these services can be measured in market value

Open in App

Solution

Priya,

The services provided by doctor to his own child will not be included in the calculation of national income because it is not possible to market the service offered by doctor to his own child.

Suggest Corrections

Similar questions

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

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?

Join BYJU'S Learning Program