CUET Preparation Today
Net National Product at factor cost (NNPFC) also called National income, includes _ _ _ _ _ _ _ _ |
Transfer incomes Factor incomes Both transfer and factor incomes Neither transfer nor factor incomes |
Factor incomes |
The correct answer is option (2) : Factor incomes NNP at factor cost is the sum of income earned by all factors in the production in the form of wages, profits, rent and interest, etc., belonging to a country during a year. It is the National Product and is not bound by production in the national boundaries. It is the net domestic factor income added with the net factor income from abroad. |
