The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
it is very important to calculate national income so as to see whether the country in terms of its economy is progressing and to also see that the calculation of national income is carried out efficiently and precisely
importance of national income.
the national income is that by the means of national income v can know that how much the income of country and v can find the national income dedact the all rents allowences paymants salaries and wages
The importance of national income statistics is to show a national income figures and show the performance of the company. The limitations are there are room for errors in report , some categories are not accurate or are misrepresented , and they do not measure welfare as a source of income.
1. it help to know economic problem of under developed country 2. it help to measure inflationary 3. national income accounting throw the light on distribution income in economy 4. it help to measure the welfare of the citizens or country by EMMANUEL GASPER MZUMBE UNIVERSITY
National income figures helps governmental institutions understand the state of the economy. If the national average for income has increased, then businesses are growing.
it is very important to calculate national income so as to see whether the country in terms of its economy is progressing and to also see that the calculation of national income is carried out efficiently and precisely
importance of national income.
the national income is that by the means of national income v can know that how much the income of country and v can find the national income dedact the all rents allowences paymants salaries and wages
The importance of national income statistics is to show a national income figures and show the performance of the company. The limitations are there are room for errors in report , some categories are not accurate or are misrepresented , and they do not measure welfare as a source of income.
1. it help to know economic problem of under developed country 2. it help to measure inflationary 3. national income accounting throw the light on distribution income in economy 4. it help to measure the welfare of the citizens or country by EMMANUEL GASPER MZUMBE UNIVERSITY
to help the economic to earn or get money.
The income approach to measure national income in the country of Ghana is not very accurate. Much of the Ghana economy relies on the barter system.
The hospitality industry, in the United States, accounts for 18 percent of the national economy. This amounts to almost $2 trillion.
national income measures the wealthy that exists in an economy.national income statistics wl determine national output under the fomular:output=income=expenditure!however the appropriateness of national income ar a measure of output is compromised by the weaknesses inherent in obtaining national income data!national income disregards underground economy or the black market which as a result economies that constitute a significant amount of such markets would have an understated national income figure thus its true measure of national out put wl nt be realised if these statistics are used!
A higher national income reflects an increase in demand from the country itself and exports to outside countries. This contributes to the growth of the economy by increasing employment and wages to meet these demands.
There are so many uses of national income statistics. This is commonly used to measure the economy and living standards of the people in a country.