Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which organization calculates the national income in India?
Which organization calculates the national income in India?
- United Nations
- Central Statistical Organization (correct)
- World Bank
- International Monetary Fund
What is the purpose of national income?
What is the purpose of national income?
- To maximize the national welfare of the people (correct)
- To calculate GDP growth rate
- To measure the inflation rate
- To determine the poverty rate
How is national income defined?
How is national income defined?
- The total value of all goods and services imported by a country in a year
- The total value of all goods and services produced by a country in a year (correct)
- The total value of all goods and services exported by a country in a year
- The total value of all goods and services consumed by a country in a year
What does national income provide a basis for?
What does national income provide a basis for?
Signup and view all the answers
Flashcards are hidden until you start studying
Study Notes
National Income in India
- The Central Statistical Organisation (CSO) calculates the national income in India.
Purpose of National Income
- The purpose of national income is to measure the total value of goods and services produced within an economy during a specific period of time.
Definition of National Income
- National income is defined as the total value of all final goods and services produced within an economy during a specific period of time, usually a year.
Significance of National Income
- National income provides a basis for measuring the performance of an economy, calculating the gross domestic product (GDP), and determining the per capita income.
Studying That Suits You
Use AI to generate personalized quizzes and flashcards to suit your learning preferences.
