UPSC  >  Indian Economy for UPSC CSE  >  National Income Accounting

National Income Accounting Video Lecture - Indian Economy for UPSC CSE

136 videos|338 docs|146 tests

FAQs on National Income Accounting Video Lecture - Indian Economy for UPSC CSE

1. What is national income accounting?
Ans. National income accounting refers to the measurement of the economic activity of a country, including the total value of goods and services produced, income earned by individuals and businesses, and the overall economic performance. It helps in evaluating the economic health and growth of a nation.
2. Why is national income accounting important?
Ans. National income accounting is important as it provides policymakers, economists, and analysts with crucial information about the overall economic performance of a country. It helps in formulating effective economic policies, assessing the standard of living, measuring economic growth, and analyzing income distribution.
3. What are the main components of national income accounting?
Ans. The main components of national income accounting include gross domestic product (GDP), gross national product (GNP), personal income, disposable income, and national savings. These components provide a comprehensive picture of the economic activity and income generation within a country.
4. How is national income measured?
Ans. National income is measured by calculating the total value of goods and services produced within a country's borders over a specific period, known as GDP. It can be measured through three approaches: the production approach, the income approach, and the expenditure approach. These approaches help in capturing different aspects of economic activity.
5. What are the limitations of national income accounting?
Ans. National income accounting has certain limitations. It may not accurately capture the informal sector, underground economy, or non-monetary transactions. It may also overlook the environmental costs of economic activities and the distribution of income within the population. Additionally, it does not provide a complete picture of a nation's well-being, as it does not consider factors like happiness, education, and health.
136 videos|338 docs|146 tests
Explore Courses for UPSC exam

How to Prepare for UPSC

Read our guide to prepare for UPSC which is created by Toppers & the best Teachers
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev
Download free EduRev App
Track your progress, build streaks, highlight & save important lessons and more!
Related Searches

Previous Year Questions with Solutions

,

National Income Accounting Video Lecture | Indian Economy for UPSC CSE

,

Semester Notes

,

shortcuts and tricks

,

Exam

,

video lectures

,

National Income Accounting Video Lecture | Indian Economy for UPSC CSE

,

Free

,

National Income Accounting Video Lecture | Indian Economy for UPSC CSE

,

study material

,

ppt

,

Summary

,

Extra Questions

,

Important questions

,

pdf

,

Objective type Questions

,

mock tests for examination

,

MCQs

,

practice quizzes

,

Viva Questions

,

Sample Paper

,

past year papers

;