Which of these payments is part of national income?

Fees paid to a private coaching centreCorrect answerYour answerPocket money given by parentsCorrect answerYour answerA scholarship from a trustCorrect answerYour answerPurchase of a government bondCorrect answerYour answer

Show the answer and explanation

CorrectNot quiteAnswer A

Correct answer: A

The coaching centre produces a service, so the fee is income from production.
Pocket money and scholarships are transfers; a bond is a financial asset.

Concept: Payment for a service
Typical timeTypical: 40 s
Your timeYours: —

The rule this testsWhat is counted and what is not

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Which of these payments is part of national income?

Explanation