NATIONAL INCOME CLASS 12TH MACROECONOMICS

ACCOUNTS BY SONIA SETIA

NATIONAL INCOME CLASS 12TH MACROECONOMICS. IN THIS VIDEO YOU WILL GET A CLEAR IDEA OF THE TOPIC i.e. NATIONAL INCOME. AND THE METHODS TO MEASURE THE NATIONAL INCOME .  VALUE ADDED METHOD INCOME METHOD EXPENDITURE METHOD DO SHARE WITH YOUR FRIENDS . THANKS AND REGARDS.

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00:00If all those economics books look like gibberish, you're in the right place.

00:04National income is the total value of all goods and services produced in a country over a year.

00:10It's a big deal because it shows how well the economy is doing.

00:14There are three main ways to calculate it.

00:17First up, the value-added method.

00:20Imagine baking a cake. Add up the value at each step until you get the final cake.

00:25That's your value added.

00:27Next, we have the income method.

00:29Think of it as counting all the money people earn from wages, rent, interest and profits.

00:35Simple, right?

00:36Lastly, the expenditure method.

00:38This one's about totaling all the money spent on goods and services by households, firms and the government.

00:44Plus net exports.

00:46And there you have it. National income made easy.

00:49Happy studying.

00:50Thanks for watching and stay tuned for more from Accounts and Economics by Sonia Setia.

00:55Goodbye.

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