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Give Reasons Or Explain the Following Statement :Paid Services Are Included in National Income. - Economics

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Give reason or Explain the following statement :

Paid services are included in national income.

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Solution

Paid services are included in national income.

Paid services are included in national income. It is because national income includes value of only those services which are paid for e.g. services of Doctor, lawyers, mobile service, railway service etc. It does not includes services which are not paid for and provided out of love, affection, charity, sympathy etc.

Concept: Concept of National Income
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