Date : 9.4.2020
Sub : Economics
Class : 12
Day : 1
Period : 7
Time : 12:20pm- 1pm
Learning Outcomes
Sub : Economics
Class : 12
Day : 1
Period : 7
Time : 12:20pm- 1pm
Learning Outcomes
- To understand how National Income is calculated through the Expenditure method
- Meaning of the terms related to National Income
- Understanding the various components of the Expenditure
- Significance of Expenditure method in calculating National Income
A very good morning students
Today we are going to learn the computation of National Income through the Expenditure Method.
There are 4 components of the Expenditure method
Today we are going to learn the computation of National Income through the Expenditure Method.
There are 4 components of the Expenditure method
- Private Final Consumption Expenditure
- Government Final Consumotion Expenditure
- Gross domestic Capital Formation
- Net Exports also called (X-M)
If we add the above 4 components we will arrive at Gross Domestic Product at Market Price (GDPmp)
Converting Gross to Net substract Depreciation from Gross we will get Net
GDPmp- Depreciation = Net domestic Product at Market Price (NDPmp)
Converting Market Price to Factor Cost substract Net Indirect Tax from NDPmp and we will arrive at NDPfc which is Domestic Income
NDPmp - Net Indirect Tax = NDPfc
Converting Domestic Income to National Income add Net Factor Income From Abroad
NDPfc + NFIA = NNPfc which is National Income
Please go through the video it has been explained very well
Try and solve the sum by yoursef
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