Difficulties in measurement of the national income
XI Economics Difficulties in measurement of the national income
Monday, December 23, 2019
DIFFICULTIES IN MEASURING NATIONAL INCOME
1. LACK OF STATISTICAL DATA
In developing countries, the accurate figures about the various sectors of economy are not available; due to this we are unable to estimate the real national income of the country.
2. PROBLEM OF DOUBLE COUNTING
While computing the national income there is always a danger of double counting. If the care is not taken, the national income is over estimated.
3. LACK OF PUBLIC CO – OPERATION
Public is also not ready to provide the correct figures about the income due to the fear of income tax.
4. NO ACCOUNT
Some people do not keep any proper account about their business income, so this income is not including in the national income.
5. DIFFICULTY IN ASSESSMENT
Some goods and services value cannot be assessed easily. For example the value of different Cows and Sheep’s is very difficult.
6. UNPAID SERVICES
In national income only those services are included for which the payment is made. The unpaid services are excluded
did you check three the most important questions (teen bohat aham sawal zarror dheky)
National Income & Various Concept Of National Income (long)
Explain Measurement Of National Income or Explain Measuring GNP (long)
Explain Robbin's definition of economics is the science of scarcity and choice.
The income of the foreign investment is not included in the national income because these companies send some portion of their profit to their own countries.
Explain Measurement Of National Income or Explain Measuring GNP (long)
Explain Robbin's definition of economics is the science of scarcity and choice.
7. ASSESSMENT OF DEPRECIATION
The assessment of depreciation allowance repair and replaced charges is a very difficult job.
8. TRANSFER EARNINGS
The transfer income earnings like pensions are excluded from the national income and it feels problem.
9. DIRECT EXCHANGE
In the less developing areas people exchange the commodities with the commodities and do not use the money. So the value of these goods cannot be estimated.
10. INCOME OF FOREIGN COMPANIES
The income of the foreign investment is not included in the national income because these companies send some portion of their profit to their own countries.
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