Kubendran S M is teaching live on Unacademy Plus
National Income -by SM KUBENDRAN
ABOUT ME . B.E (ECE) from Anna UNIVERSITY Interests : writing stories & poem in Tamil, MOVIES, Listening music, Yoga . Loves to Share informative and Motivate people TAKEN CLASSES IN ORGANIZATIONS RATE ,REVIEW, RECOMMEND . Follow me on https://unacademy.com/user/kubendran . #KarpathuLAS
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National Income . Performance of an economy is related to the level of production (of goods and services) or total economic activity. Measures of national income and output are used in economics to estimate the total value of production in an economy
The standard measures of income and output are Gross National Product (GNP), Gross Domestic Product (GDP), Gross National Income (GNI), Net National Product (NNP), and Net National Income (NNI). In India, the Central Statistical Organization has been estimating the national income.
Definitions of National Income National income is a measure of the total value of the goods and services (output) produced by an economy over a period of time (normally a year) . It is also a measure of the income flown from production, and/or the sum total of all the spending involved for the produ? output National Income Committee of India: " National income estimate measures the yolume of commodities and services turned out durihg a given period counted without duplication."
Alfred Marshal: "The labour and capital of the country acting on its natural resources produce annuallv a certain net aggregate of commodities, material and immaterial, including services of all kinds... This is the net annual income or revenue of the country, or the national dividend." Irving Fisher: "The national dividend or income consists solely of services as received by ultimate consumers, whether from their material or from their human environment."
Basic Concepts of NI . . Need for the Study of National Income . Problems in calculating Nationa Income National Income Series in India
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