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Q: Which of the following is the incorrect order of concepts of national income from broad to narrow?
  • A. Gross national Product at market prices - Net national product at market price - Net national product at factor cost- Personal Income.
  • B. Gross national product at factor cost - Net national product at factor cost - Personal income - Personal Disposable Income.
  • C. Gross National product at market prices - Net national product at factor cost - Net national product at market price - Gross National Product at factor cost.
  • D. Net national product at factor cost - Personal Income - Personal Disposable Income
Correct Answer: Option A - Option (a) is the incorrect order of concepts of national income from broad to narrow. The correct order is- Gross National Product at factor cost- Gross National Product at market prices - Net national product at market price - Personal Income.
A. Option (a) is the incorrect order of concepts of national income from broad to narrow. The correct order is- Gross National Product at factor cost- Gross National Product at market prices - Net national product at market price - Personal Income.

Explanations:

Option (a) is the incorrect order of concepts of national income from broad to narrow. The correct order is- Gross National Product at factor cost- Gross National Product at market prices - Net national product at market price - Personal Income.