This course work is based on the topics field of study Income, measuring stick of living and Protectionism. The definition of all(prenominal) the above listed are rigid in the assignment. The assignmnet includes the indicators of standard of living, the advantages and disadvantages of protectionism.
This assignmnet seems to broaden ones fellowship about the topics listed above.
Acknowledgement
Sincere conveys goes out to all the persons who wee made this assignment a tremendous success.
I sine qua non to thank the Almighty Father for giving me the health, strength and lettering that I needed to complete this ssignmnet.
I would like to thank all the sources where I have obtained my information to be corporate in this assignmnet.
NATIONAL INCOME
subject field income is the total value of all income in a nation. These incomes include: wages and profits, interest and rents, and support payments, during a given period, usually one year.
National income is similarly defined as, the income generated by a states production, and therefore the total income of its factors of production. However, with the exception for some adjustments that doesnt usually enter theoretical models. National Income is the same as Gross Domestic Product (GDP).
National income is a measure of the total level of economic body process which takes place in an economy over a year. It is in like manner referred to as a measure of the money value of goods and work available to a nation from economic activity. National income is considered to be the measure of the all the production activities conducted in a country during a certain period of time. It is a tool to luff the money value of all the goods and services produced during the year.
National income helps to meet the economic scenario existing in a particular country. computation of the National Income for a particular year helps in having the comparative degree analysis of the economic standing of the country in semblance to the previous years.
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