1. Soft Skills Courses
  2. OSS-101
  3. Unit-10
unit-10-basic-features-of-indian-economy

Unit-10 Basic Features of Indian Economy

The unit provides an overview of some of the concepts in economics. Highlights the importance of natural and human resources.

Distinguish between the terms wages, sectoral income, and national income in 5-6 sentences.




< Back To All Answers

Answer

{{currentAnswer.user.userName}}

Written on {{ansDate()}}

{{trustHtmlContent(currentAnswer.answerContent)}}

Learning Pundits Content Team

Written on Apr 17, 2019 11:50:39 AM

‘Wages' refers to the income of an individual.

'Sectoral income' is a part of National Income referring to the total value of all goods and services produced within the sector. is the aggregate of all sectoral income.

Both in the case of 'sectoral income' and National Income, the value of output net of inputs or what is called as 'value added' is taken into account.