Correct option is B
The correct answer is: (B) Output Method
Explanation:
National Income generated by agriculture is typically calculated using the Output Method. This method calculates the value of all goods and services produced by the agricultural sector within a specific time period. It focuses on the total value added at each stage of the agricultural production process.
National Income generated by agriculture is typically calculated using the Output Method. This method calculates the value of all goods and services produced by the agricultural sector within a specific time period. It focuses on the total value added at each stage of the agricultural production process.
Output Method is widely used to measure national income in the agriculture sector as it directly assesses the total output (agricultural production) and adjusts for any intermediate goods to avoid double counting.
Information Key Points:
Output Method: Measures total value of agricultural production.
Income Method: Calculates national income by summing all incomes earned by individuals and businesses.
Expenditure Method: Focuses on the total expenditure on goods and services produced.
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