HSC Arts 12th Board ExamMaharashtra State Board
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National Income - HSC Arts 12th Board Exam - Economics

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Question

National income

Solution

In common, national income means the total value of goods and services produced annually in a country. In other words, the total amount of income accruing to a country from economic activities, in a year's time is known as national income. It includes payments made to all resources in the form of rent, wages, interest and profits.

Thus, national income is the aggregate monetary -value of all final goods and services produced-in the, economy in a year.

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APPEARS IN

 2015-2016 (March) (with solutions)
Question 2.1.4 | 2.00 marks

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Solution National Income Concept: Concept of National Income.
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