Production of services for self-consumption are not included in national income.
True or False with Reasons:
Production of services for self-consumption are not included in national income.
Anurag Pathak Changed status to publish December 11, 2023
True,
Such services are not included in national income as it is difficult to ascertain their market value and they are not rendered for earning income.
Explanation:-
Production of services for self-consumption involves love and affection and are not rendered for earning income.
Thus their market value can not be ascertained due to the non-availability of data.
In short, the services produced with love and affection are price-less.
Anurag Pathak Changed status to publish December 11, 2023
