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DISTINCTION BETWEEN – NATIONAL INCOME AND PER CAPITA INCOME
NATIONAL INCOME PER CAPITA INCOME “National income is the money value of goods and services produced in the economy in the current year”. “Per capita income is the average income of a nation” Factors determining –The contribution of different…
Posted in Indian Economy
DISTINCTION BETWEEN – AGRICULTURE AND INDUSTRY
AGRICULTURE IDUSTRY Agriculture includes cultivation and allied operations. Industry includes all manufacturing activities. Agriculture is included in the primary sector. Industry is included in the secondary sector Contribution of agriculture to the national income is inversely related to the…
Posted in General Economics, Indian Economy