Winning of a Lottery Prize or Crossword or Contests (Included/Excluded in National Income)
Determine the following item included/excluded in the National Income
Winning of a Lotter Prize or Crossword or Contests are included/excluded in the National Income
Anurag Pathak Changed status to publish December 7, 2023
Answer:-
No,
It will not be included in the national income as it does not add to the flow of goods and services in the economy.
In other words, winning of a Lottery prize or contest is a one-way transaction, the winner does not provide any productive services and goods in return.
Thus it does not add to the flow of goods and services in the economy.
Anurag Pathak Changed status to publish December 7, 2023
