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Study Notes on National Income: Definition, Measurement Problems and Estimate (With Diagram)! Definition of National Income: National income of a country means the sum total of incomes earned by the citizens of that country during a given period, say a year. It should be noted that national income is not the sum of all incomes earned by all citizens, but [...]

National Income of a Country (Study Notes)! Meaning of National Income: The labour and capital of a country acting on its natural resources produce annually a certain amount of goods and services. This is called national income of the country. National income of a country can be defined as the total market value of all final goods and services produced [...]