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MANNAM FOUNDAITON CENTRE FOR EDUCATION TECHNOLOGY,
PORUVAZHY P O EDAKKAD
Name : Devika.SSubject : Social ScienceCandidate Code : 16915373002
NATIONAL INCOME
National income is the total net value of goods and services produced within a nation over a specified period of time representing some of wages, profit, rents, interest and pension payments to residences of the nation.
National income is the amount earned from the production of goods and services in a country during a year. This is a received mainly from three sectors.Agricultural SectorIndustrial SectorService SectorAdding up the income from these sectros we get national income. When we calculate the money value of all goods and services produced in a country during a particulars year, we get the national income of the country for that year
Concepts of national income
•GNP (Gross National produced)Gross National produced is an important concept of national income. It is calculated on the basis of the final goods and services produced in a country.
GROSS DOMESTIC PRODUCT (GDP)
GDP of a country is the total money value of the final goods and services produced within the domestic territory during a financialyear.
NET NATIOANL PRODUCT
Net National Product = GNP – De Priciation charges
Percapita Income
When we divide the national income by population. We get per capital income.
How to calculate national income
There are three methods for estimatng national incomeProduct methodIncome MethodExpenditure Method
Concepts of national income
The economic condition of a country is calculated to increase production for economic prosperity. National income is the total value of a country’s final outpaid of all new goods and services produced in one year.