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प्रश्न
State whether item given below is included in estimating national income. Give a reason in case to justify your answer.
Expenditure on the purchase of old house.
कारण सांगा
औचित्य
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उत्तर
The purchase of an old house is not included in the estimation of national income because:
- It is a transfer of ownership of an existing asset, not a payment for the production of new goods or services in the current year.
- National Income includes only the value of newly produced final goods and services within the accounting year.
- The transaction does not generate new income for factors of production (land, labor, capital, entrepreneurship) in the current period.
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