There are three methods of measuring
national income. This are-
(i) Production
or output method
(ii) Income
method
(iii) Expenditure
method
(i) Production or output method: This
method approaches national income from the outside. According to this method,
the economy is divided into different sectors such as agriculture, mining,
manufacturing, small enterprises, commerce, transport, communication and other
services. Then the gross product is found out by adding up net values of all
the production that has taken place in these sectors during a given year.
This method of estimating (আনুমানিক
হিসাব) national income enables us to trace the origin of
the national income aggregate (সমষ্টি)
to the different sectors of the economy. Therefore this is called national
income by industrial origin.
(ii) Income method: This
method approaches national income from the distribution side. In other words
this method measures the national income after it has been distributed and
appears as income earned or received by individuals of the country. Thus
according to this method national income is obtained by summing up of the
incomes of all individuals in the country.
This method estimating national income has the great
advantage of indicating the distribution of national income among different
income groups such as landlords. Capitalists, workers etc. Therefore this is
called national income by distributive share.
(iii) Expenditure method:
This method arrives at national income by adding up all the expenditure made on
goods and services during a year. Income can be spent either on consumer goods
or investment goods. Thus we can get national income by summing up all
consumption expenditure and investment expenditure made by all individuals as
well as the government of a country during a year.
Hence, the gross national product is
found by, adding up-
(a) Personal
consumption expenditure
(b) Gross domestic
private investment
(c) Net foreign
investment
(d) Government
expenditure
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