Paper 1 · June 2009 · National Income and Economic Growth
National income is calculated by
Aconsumption, production and income methods.
Btaxation, production and income methods.
Csavings, investment and consumption methods.
Dexpenditure, production and income methods.
Explanation
The same national income can be reached from three directions: by adding up what is spent on final output, by adding up the value added in production, and by adding up the incomes paid to the factors that produced it. Expenditure, output and income are three views of one flow and must give the same total.
ZIMSEC Economics Paper 1, June 2009, Q27