Winning of a Lottery Prize or Crossword or Contests (Included/Excluded in National Income)
Determine the following item included/excluded in the National Income
Winning of a Lotter Prize or Crossword or Contests are included/excluded in the National Income
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Answer:-
No,
It will not be included in the national income as it does not add to the flow of goods and services in the economy.
In other words, winning of a Lottery prize or contest is a one-way transaction, the winner does not provide any productive services and goods in return.
Thus it does not add to the flow of goods and services in the economy.
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