A farmer keeps a part of crops grown on his farms for consumption by his family. Expenditure on such crops will be included in National Income.
True or False with Reasons:
A farmer keeps a part of crops grown on his farms for consumption by his family. Expenditure on such crops will be included in National Income.
Anurag Pathak Changed status to publish December 11, 2023
True,
Expenditure on such own account production, i.e., production for self-consumption will be included in the National Income since these are productive services.
Explanation:-
If market value of the production for self-consumption is ascertained. It will be included in the national income. The makret value of the crops produced by the farmer has its market value.
Anurag Pathak Changed status to publish December 11, 2023
