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Income method measures national income generated from four factors of production i.e. land, labour, capital and entrepreneurship. Which of the following options link with the income method of calculating national income? |
Income is generated in the form of rent, wages, interest and profits Income is generated in the form of cash, kind, royalty and loyalty Income is generated in the form of corporate profits, dividends etc None of the above |
Income is generated in the form of rent, wages, interest and profits |
The correct answer is option 1: Income is generated in the form of rent, wages, interest and profits The Income Method of calculating National Income measures the total income earned by the four factors of production:
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