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USES IMPORTANCE OF NATIONAL INCOME — Economics Keypoint

USES IMPORTANCE OF NATIONAL INCOME

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  1. The national income statistics is used in determining the standard of living of a country’s population.
  2. It is used in measuring the social and economic growth of the country.
  3. It is used in calculating the per-capita income of the population of a country
  4. It is used for economic planning and allocation of revenue.
  5. It is used to ascertain and compare the living standard of other countries.
  6. It is used to reveal how expenditures are distributed among various goods.
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