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Give Reason Or Explain the Following Statement: Old Age Pension is Transfer Income. - Economics

Short Note

Give reason or explain the following statement:

Old age pension is transfer income.

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Solution

Old age pension is a transfer income as no services are provided in return for them. The government provides such services for welfare purposes.

Concept: Concept of National Income
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APPEARS IN

Micheal Vaz Economics HSC 12th Standard Maharashtra State Board
Chapter 9 National Income
Exercise | Q 2.4 | Page 79
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