| What is meant by National Income?
National income is a money value of all the final goods and services produced by a country during one year |
| What consists to calculate National Income of a country ?
It consists collection of different types of goods of all sizes and shapes and services of different types |
| How can measure the value of all goods and service produced in a country ?
Value of Goods and services produced is measured by Money |
| How can easily find out the growth of country ?
To find out the growth of an economy by checking the national income figures of the country for a number of years |
| How to calculate per capita income ?
Per capita Income= National income / Population
|
| What is meant by GDP ?
Gross Domestic Product is the money value of final goods and services produced in the domestic territory of a country during an accounting year |
| How to calculate GDP?
Per capita GDP= Gross domestic product/Population |
| What are the basic economic activities ?
Production, Consumption and Capital Formation |
| How to classify the producers in the domestic territory ?
1. Central Government 2. Corporate and quasi corporate enterprises 3. Households (including unincorporated enterprises and private non profit institutions serving households) |
| What is meant by Public consumption expenditure ?
The expenditure of the government for the production of goods and services for collective consumption is called as public consumption expenditure |
| When did the first official estimates of the national income for the Indian Union were prepared in India ?
1948-49 |
| Which organization is related with calculation of National Income of India ?
The Central Statistical Organization (CSO) |
| What is meant by disposable income ?
Income of the nation from all sources after deduction of all current transfers paid. It is equivalent to national income at market prices adjusted for all current transfers |
| What is meant by Enterprise ?
Ultimate unit in institutional classification |
| How can simply classify the production ?
Activity which produces commodities or increases the value of the commodities |
Courtesy : http://nfpemavelikaradivision.blogspot.com
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