Question on: JAMB Economics - 2019
The method obtained by adding all the reward of factors of production in national income is________
A
income approach
B
expenditure approach
C
value added method
D
output approach
Ask EduPadi AI for a detailed answer
Correct Option: A
The income approach to calculating national income involves summing all the incomes earned by the factors of production (wages, salaries, rent, interest, and profits) within a country during a specific period.
Add your answer
Please share this, thanks!
No responses