Is expenditure on education of children by a family included/excluded in national income?
Is expenditure on education of children by a family included/excluded in national income?
Anurag Pathak Changed status to publish December 9, 2023
Yes,
The expenditure on education of children by a family will not be included in the national income as it is a part of the private final consumption expenditure.
Explanation:-
National Income counts the final consumption expenditure as the income.
The expenditure on the education of children is the private final consumption expenditure and is added to the national income through the expenditure method.
Anurag Pathak Changed status to publish December 9, 2023