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National Income Accounting — Economics STD 12 Humanities & Commerce — Question

Rajasthan BoardEnglish MediumSTD 12 Humanities & CommerceEconomicsNational Income Accounting3 Marks
Question
What precautions are necessary while using income method of measuring National Income?
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Answer

Following are the necessary precautions that should be taken while using income method of measuring National Income:
  1. Income from transfer payments should not be included.
(e.g. ₹ 5,000 given to you by your father as your birthday gift).
  1. Income in terms of capital gain should not be included:
(e.g. gain from the sale of old property, shares and bonds).

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