Is Services rendered by family members to each other included/excluded in National Income?
Are Services rendered by family members to each other included/excluded in National Income?
Anurag Pathak Changed status to publish December 8, 2023
No,
The services rendered by family members to each other will not be included in the national income as it is difficult to determine the value of services provided by family members to each other.
Explanation:-
Services rendered by family members to each other involve love and affection. The market value of such services can not be estimated due to the non-availability of the data.
In other words, there is no market value of activities carried out with love and affection.
Thus it will not be included in the National Income.
Anurag Pathak Changed status to publish December 8, 2023
