MILESTONE – AN INSTITUTE OF BRILLIANCE Chapter – 3 (Methods of Calculating National Income) Name three methods of measuring national income. a) Income Methodb) Value added or Product Methodc) Expenditure Method What type of data is required to measure national income at three phases of circular flow?
Explain the basis of classification of production units into primary, secondary and tertiary sector.
Differentiate factor inputs and non-factor inputs.
