JAMB - Economics (2019 - No. 9)
The method obtained by adding all the reward of factors of production in national income is________
income approach
expenditure approach
value added method
output approach
Vysvětlení
The reward of factors of production are: Rent, Interest, wages & salaries and profit. In national income adding the reward i.e R + I + W + P is used in calculating the income approach.