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Difference between private income and personal …

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Difference between private income and personal income

Posted by Simran Vishwakarma 3 years, 3 months ago

CBSE > Class 12 > Economics

1 answers

Sia ? 3 years, 3 months ago

Both are different. Private sector income includes only factor income earned by private sector within domestic territory whereas private income includes private sector income, NFIA and all current transfers from within and outside the country. Thus, private income is a national and broader concept whereas income from domestic product accruing to private sector is a domestic concept.

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