Is India a rich country? How do we make this assumption? Is it the natural resources that make a country rich? Or human resources perhaps? The economic wealth of a country depends on the utilization of these resources. Let us look at the concept of National Income and various concepts related to it.
- Some Basic Concepts of Macroeconomics
- Circular Flow of Income and Methods of Calculating National Income
- Expenditure Method and Income Method
- Some Macroeconomic Identities
- Goods, Prices, GDP and Welfare