Skip to main content
Super TutorResources
Chapter 19 of 19
Formula Sheet

Measurement Of National Income — Formula Sheet

ICSE · Class 12 · Economics

15 formulas from Measurement Of National Income (ICSE Class 12 Economics) on one page, grouped by topic. Part of the ICSE Class 12 Economics syllabus.

66 questions40 flashcards15 formulas & key relations5 concepts

Interactive on Super Tutor

Studying Measurement Of National Income? Get the full interactive chapter.

Quizzes, flashcards, AI doubt-solver and a step-by-step study plan — built for formula sheet and more.

Try Super Tutor — Free

Free trial, no card needed.

15 Entries · 4 Sections

Formulas and Key Relations

1. Core Idea and Methods

National income = output approach = income approach = expenditure approach

GDP_MP = Private final consumption expenditure + Government final consumption expenditure + Gross domestic capital formation + Net exports

NDP_FC = Compensation of employees + Rent + Interest + Profits + Mixed income

NNP_FC = NDP_FC + NFIA

NVA_FC = NVA_MP - Net Indirect Taxes (NIT)

2. Product Method / Value Added Method

Value of Output = Sales + Change in Stock

Change in Stock = Closing Stock - Opening Stock

Value of output = Price × Quantity

Value of output = (Rent + Wage + Interest + Profit) + Cost of raw material + Net indirect taxes + Consumption of fixed capital

GVA_MP = Value of Output - Intermediate Consumption

3. Income Method

Compensation of employees = Wages and salaries (cash and kind) + Employer's contribution to social security schemes

Operating surplus = Rent + Royalty + Interest + Profit

4. Expenditure Method

GDCF = GDFCF + Change in stock

National Income = GDP_MP - Net Indirect Taxes - Depreciation + NFIA

Gross Domestic Purchases = GDP at MP - Net exports

Full sheet with units and worked examples

View All

Frequently Asked Questions

What are the important topics in Measurement Of National Income for ICSE Class 12 Economics?
Key topics in Measurement Of National Income include Core Ideas and Methods, Product Method or Value Added Method, Steps, Precautions, and Double Counting in Product Method, Income Method. Study these first, then practise questions on each for the ICSE Class 12 board exam.
How many formulas are in Measurement Of National Income?
This sheet lists 15 formulas from Measurement Of National Income, grouped by topic. Learn what each symbol stands for so you can apply the formula, not just recall it.
How should I revise Measurement Of National Income for the ICSE Class 12 board exam?
Learn the core ideas first, then work through the 66 practice questions on Measurement Of National Income. Revise definitions regularly and use flashcards for quick recall before the exam.

Sources & Official References

Content is aligned to the official syllabus. Refer to the board website for the latest curriculum.

More resources for Measurement Of National Income

All ICSE Class 12 Economics Formula Sheet

For serious students

Get the full Measurement Of National Income chapter — start free.

Quizzes, flashcards, an AI doubt solver and a study plan for ICSE Class 12 Economics. Free to start, no card needed.

Try Super Tutor Free
Try this chapter free