In this video Sunil Sir has revised the entire National income chapter of Economics class 12th CBSE.
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Topics Covered.
0:00 Introduction.
00:20 Four sectors of an economy.
00:50 Circular flow of income into sector economy.
02:54 Phases of circular flow of income.
03:10 Difference between stock and flow.
05:12 Types of goods in the economy.
08:03 Different types of final goods.
08:45 Difference between final goods and intermediate goods.
10:26 Basic formula for conversion.
12:23 Methods of estimation of National Income.
13:05 Production or product method.
14:30 Income method.
16:23 Expenditure method.
17:26 Precautions regarding production method.
19:38 Problem of double counting.
20:58 Precautions regarding income method.
22:20 Precautions regarding expenditure method.
23:18 Meaning of national income.
24:03 Inclusions of domestic territory.
24:40 Exclusions of domestic territory.
25:06 Exceptions of GDP welfare.
29:15 Difference between real GDP and nominal GDP.
30:50 GDP Deflator/Price Index.
31:35 Components of NFIA.
32:27 Difference between Depreciation & Capital Loss.
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National income | One shot revision with all formula and Theory. Class 12 Economics Board exam 2024.