Piyush’s mother is a teacher. She also teaches Piyush. How would you treat this while calculating national income and domestic income?
Piyush’s mother is a teacher. She also teaches Piyush. How would you treat this while calculating national income and domestic income?
(a) It will be included in the national income, but not in the domestic income.
(b) It will be included in the domestic income, but not in the national income.
(c) It will be included in domestic income as well as national income.
(d) It will neither be included in the domestic income nor in the national income.
Anurag Pathak Changed status to publish December 13, 2023
Ans – (d)
Explanation:-
Services provided for self-consumption are neither included in national income nor in domestic income.
Piyush’s Mother teaches Piyush are the service for the self-consumption.
The market value of services for the self consumption can not be estimated due to non-availability of the data.
Generally, such services involve love and affection that is assumed to be price-less.
Anurag Pathak Changed status to publish December 13, 2023
