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How Should the Following Be Treated in Estimating the National Income of a Country? You Must Give a Reason for Your Answer. Taking Care of Aged Parents - CBSE (Arts) Class 12 - Economics

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Question

How should the following be treated in estimating the national income of a country? You must give a reason for your answer.

Taking care of aged parents

Solution

Taking care of aged parents is not included in the estimation of national income because it does not involve any production of goods and services. Also, it is meant only for self-consumption

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Solution How Should the Following Be Treated in Estimating the National Income of a Country? You Must Give a Reason for Your Answer. Taking Care of Aged Parents Concept: Concept of National Income.
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