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Income Method
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This lessons discusses about the income method of calculating GDP and then comparing all the three methods.

Arpita Prakash
YouTuber NCERTs series initiator at Unacademy 'Educator of the Month' for Feb'19 CBSE 0.1% Merit Certificate holder in Mathematics

Unacademy user
  1. INCOME METHOD Sum of final expenditures in the economy must be equal to incomes received by all factors of production taken together W Wages and Salaries received by household in a particular year P Gross profits In Interest payments . RRents GDP W+P+In+R

  2. For all the three methods: GDP= GVA( total) = C+I+G-X = w+P+In+R X- M In GDP Expenditure Method Income Method Product Method Fig. 2.2: Diagramtic Representation ofGDP by the Three Methods