Discuss the method measuring the National Income by Income Method.

Discuss the methods of measuring the National Income by Product Method.

Discuss the Iimitations of National Income as an index of economic welfare.

Explain the basic concepts of national income.

Discuss the concept of “Factor Cost”.

Given the table, calculate GNP, NNP, National Income, Personal Income and Disposable income.

Consider the following are the only transactions take place in an economy:
(i) Industry A imports goods worth Rs. 100. It sells goods worth Rs. 400 to industry B, goods worth Rs. 200 to industry C, and goods worth Rs. 1,000 for private consumption.
(ii) Industry B sells goods worth Rs. 500 to industry C and goods worth Rs. 800 for private consumption.
(iii) Industry C sells goods worth Rs. 600 to private consumption. and exports goods, valued at Rs. 500.
(iv) Depreciation cost during the year amounts to Rs. 100,
(v) Government realises taxes of the value of Rs. 100. Calculate the following with the help of net value added method from the data given above
(a) GNP_MP
(b) GNP_FC
(c) NNP_MP and
(d) NNP_FC

Write a short note on factor cost and market price.

Give an account of the five types of final goods and services included in GNP.