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Question
Identify and explain the following concept.
Shobha collected data regarding the money value of all final goods and services produced in the country for the financial year 2019-20.
Solution
Concept: National Income.
Explanation:
- The monetary value of all finished goods and services produced in a nation over a specific time period is referred to as national income.
- As a result, this example pertains to the idea of "national income," as Shobha gathered information on the dollar value of all finished goods and services produced in the nation during F.Y. 2019-20.
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| (Rs In crores) | |
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| (Rs crores) | ||
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| 2 | Net current transfers to rest of the world | 30 |
| 3 | Social security contributions by employers | 47 |
| 4 | Mixed income | 600 |
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| (Rs in crores) | ||
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| (Rs crore) | ||
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