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to measure standard of living in a country GDP in generally use to measure the productivity in a country,
to compare different sector's of economy, which sector is progressing at what speed, as it is progressing at the desired speed or not
to measure the growth rate in crease in GDP generally shows the growth in the country
GNP generally shows the standard of living and GDP generally shows the productivity in the country
government planning needs data for forecasting of economic resources and to achieve targets, the national income figure gives the clear indications about the scares resources to achieve different targets
to measure the distribution of income in different sectors, so the importance of sectors and the priority sectors so that investment should be done on that sector say banking in rural areas
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Explain the importance of national income?
importance of national income.
How is a method chosen for measuring National Income?
the best way of measuring the national income of a country is to divide the countries total income by dividing the total people living in that area.....
What are the importance of national income in the economy?
The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
What are the disadvantages of three appoaches to measuring national income?
wesrdt
What are the Importance of national income with the national income concept?
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
Explain the importance of national income?
importance of national income.
How is a method chosen for measuring National Income?
the best way of measuring the national income of a country is to divide the countries total income by dividing the total people living in that area.....
What are the importance of national income in the economy?
The importance of national income in the economy is absolutely huge. This determines whether or not there is money that can be spent.
What are the Importance of national income with the national income concept?
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
What are the disadvantages of three appoaches to measuring national income?
wesrdt
What are the importance and limitations of national income statistics?
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.
What is the importance of national income figures?
National income figures helps governmental institutions understand the state of the economy. If the national average for income has increased, then businesses are growing.
What are the Difficulties in measuring of national income?
identify output and output may be final or intermediate
What is importance of calculating national income in an economy?
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
What are problems associated with measuring national income?
Very hard to get a full survey and people can lie
How can the problems encountered in measuring national income be minimised?
Ensure you have the correct statistics and you calculate correctly.
What are the reason for measuring national income?
You can measure national income by looking at various factors. The most important ones include average living standard and the rate of economic growth. National incomes measures the value of good and services a country produces.
