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5 lessons,
40m 49s
National Income
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Overview of course -National Income

Heena Malhotra
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  1. *National Income By Heena Malhotra

  2. At the end of this course, you will be able to Know the meaning of National Income * Understand the various concepts related to national income *Understand how national income can be approached from 3 different ways. *Know about balance of trade and balance of payment. Know how national income and per capita income are growing in India. *Learning obiective

  3. Income Production Expenditure National Income

  4. . Wages . Salary . Rent . Interest . Profit Expenditure Rs1000 Income Production National Income

  5. INTRODUCTION National income is the money value of all the final goods and services produced by a country during a period of one year. National income consists of a collection of different types of goods and services of different types. Since these goods are measured in different physical units it is not posible to add them together. Thus, we cannot state national income is so many millions of metres of cloth, so many million litres of milk, etc. Therefore, there is no way except to reduce them to a common measure. This common measure is money. The value of all goods and services produced is measured in money. For example, if the value of a metre of cloth is 720 and the total cloth produced is 100 metres, then the money value of cloth is?2000. In this way we can find out the value of other goods and services and the total value of all the goods and services produced during one year. This gives us a single measure of the final goods and services produced by the country in that year which is nothing but the value of national income or national product