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UPSC 1997: National Income is the
(a)Net National Product at market price
(b)Net National Product at factor cost
(c)Net Domestic Product at market price
(d)Net Domestic Product at factor cost
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Not attemptedCorrect Answer: (b) Net National Product at factor cost
National Income is defined as Net National Product (NNP) evaluated at factor cost—i.e., NNP after adjusting market-price figures for indirect taxes minus subsidies. It is therefore NNP at factor cost, not at market price or domestic variants. ([cso.ie](https://www.cso.ie/en/methods/nationalaccounts/annualnationalaccounts/annualnationalaccountsmethodology/definitionsandconcepts/?utm_source=openai))
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Frequently Asked Questions
What is the correct answer to this UPSC 1997 Indian Economy question?▼
The correct answer is option (b): Net National Product at factor cost. Watch the detailed video explanation in our Sherlocking Prelims course on UnlockIAS.
Which year was this National Income & Economic Growth question asked in UPSC Prelims?▼
This question was asked in UPSC CSE Prelims 1997, GS Paper 1, as Question 99. It falls under Indian Economy > National Income & Economic Growth.
What is the difficulty level of this UPSC question?▼
This question is rated "easy". It tests basic recall and most well-prepared aspirants should answer it correctly.
How many UPSC Prelims questions have been asked from National Income & Economic Growth?▼
UPSC has asked 37 questions from National Income & Economic Growth (under Indian Economy) across multiple years. Visit the topic page to see the full list and year-wise trends.