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Question
The value-added method of calculating national income is also called as:
The value-added method of calculating national income is also called as:
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Solution
The correct option is A Product method
The value added method of calculating national income is also
called as product method
Product method: In this method national income is measured as
money value of all final goods and services produced in an economy during a
year. Final goods here refer to those goods which are directly consumed and not
used in further production process.
When value added by each and every individual firm is added,
we get the value of national income.
The value added method of calculating national income is also called as product method
Product method: In this method national income is measured as money value of all final goods and services produced in an economy during a year. Final goods here refer to those goods which are directly consumed and not used in further production process.
When value added by each and every individual firm is added, we get the value of national income.
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