NATIONAL INCOME CLASS 12TH MACROECONOMICS
NATIONAL INCOME CLASS 12TH MACROECONOMICS.
IN THIS VIDEO YOU WILL GET A CLEAR IDEA OF THE TOPIC i.e. NATIONAL INCOME. AND THE METHODS TO MEASURE THE NATIONAL INCOME .
VALUE ADDED METHOD
INCOME METHOD
EXPENDITURE METHOD
DO SHARE WITH YOUR FRIENDS .
THANKS AND REGARDS.
IN THIS VIDEO YOU WILL GET A CLEAR IDEA OF THE TOPIC i.e. NATIONAL INCOME. AND THE METHODS TO MEASURE THE NATIONAL INCOME .
VALUE ADDED METHOD
INCOME METHOD
EXPENDITURE METHOD
DO SHARE WITH YOUR FRIENDS .
THANKS AND REGARDS.
Transcript
00:00If all those economics books look like gibberish, you're in the right place.
00:04National income is the total value of all goods and services produced in a country over a year.
00:10It's a big deal because it shows how well the economy is doing.
00:14There are three main ways to calculate it.
00:17First up, the value-added method.
00:20Imagine baking a cake. Add up the value at each step until you get the final cake.
00:25That's your value added.
00:27Next, we have the income method.
00:29Think of it as counting all the money people earn from wages, rent, interest and profits.
00:35Simple, right?
00:36Lastly, the expenditure method.
00:38This one's about totaling all the money spent on goods and services by households, firms and the government.
00:44Plus net exports.
00:46And there you have it. National income made easy.
00:49Happy studying.
00:50Thanks for watching and stay tuned for more from Accounts and Economics by Sonia Setia.
00:55Goodbye.