Conceptual Problems are Faced in the Estimation of National Income National Product income has been defined as the value of the net output of goods and services in an economy. The goods and services may be tangible goods like a car, a loaf of bread, etc., …
Difficulties in Measurement of National Income There are some conceptual problems or difficulties that crop up when we start measuring the national income of a country, Following are some of the problems and difficulties in measuring national income Problems of Definition of National Income Calculation of …
Importance of National Income The concept of national income or national dividend as it was formerly known, occupies an important place in the sphere of production and distribution in economic theory. National income consists of the aggregate value of all goods and services produced by the …
Measuring National Income National income portrays itself as national product, national expenditure and national income, National Product, national expenditure and national income thus form a circular flow and make it possible to measure national income in three different ways, namely, as a sum of incomes derived …
Plato Ideal State Plato Ideal State is based on the following principles or features: Plato State is Functional Specialization Plato was influenced of the Pythagorean theory of the human nature. Pythagoras classifies human nature in three sections that are reason, courage and appetite. Plato says that …
What is Sovereignty? Sovereignty is one of the most essential and unique features of the state. It is the ultimate and supreme law and policy making authority of the state. It is the soul of state. It is that element of the state, whit distinguishes the …
Disadvantages of Unitary Form of Government Following are the limitations, demerits and disadvantages of unitary state or government Fails in Multi-Racial States The states of vast areas and multi-races cannot effectively be controlled or governed by the unitary form of government. Such unitary states are unstable …
