Civil Services APPSC Group I Services Prelims Mock Test Series 2025 General Knowledge Economy National Income Accounting
Consider the following statements regarding Methods of Calculating National Income:
1. By the income method, the sum of the net income of people working in various sectors is obtained.
2. In India, National Income is calculated by using the Product method.
3. The product method focuses on the net value added by each of the components in production.
Which of the statements given above is/are not correct?
1
1 and 2 only
2
2 only
3
2 and 3 only
4
1, 2 and 3