Economics: Define National Income

Question

Define National Income

Vimala Balu · Accepted Answer

“The labour and capital of a country acting on its natural resources produce annually a certain net aggregate of commodities, material and immaterial including services of all kinds. This is the true net annual income or revenue of the country or national dividend”.
-Alfred Marshall.

Vimala Balu · Answer

“the net output of the commodities and services flowing during the year from the country’s productive system into the hands of the ultimate consumers or into net addition to the country’s stock of capital goods”.
- simon kuznets.

Economics

Define National Income

“The labour and capital of a country acting on its natural resources produce annually a certain net aggregate of commodities, material and immaterial including services of all kinds. This is the true net annual income or revenue of the country or national dividend”. -Alfred Marshall.

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