Question

Distinguish between.

Personal income and National Income.

Answer 1

Personal income and National Income.

Personal Income	National Income
Meaning: Personal income is the sum of all incomes actually received by an individual or household from all the sources during a given year.	The national income is the aggregate monetary value of all final goods and services produced in a country during one year.
Concept: Study of personal income comes under the microeconomics. It is a microeconomic concept.	Study of national income comes under macroeconomics. It is macroevonomic concept.