Private Income and Personal Income

Economics ⇒ National Income and Related Aggregates

Private Income and Personal Income starts at 12 and continues till grade 12. QuestionsToday has an evolving set of questions to continuously challenge students so that their knowledge grows in Private Income and Personal Income. How you perform is determined by your score and the time you take. When you play a quiz, your answers are evaluated in concept instead of actual words and definitions used.

See sample questions for grade 12

A company earns ₹5,00,000 as profit, pays ₹50,000 as corporate tax, and retains ₹1,00,000 as undistributed profit. What amount is distributed as dividend?

Define private income.

Distinguish between factor income and transfer income with examples.

Explain the difference between private income and personal income.

Explain the relationship between private income, personal income, and national income.

Explain the role of transfer payments in the calculation of private income.

Explain the significance of personal income in the measurement of economic welfare.

Explain why corporate tax is deducted from private income to calculate personal income.

Explain why undistributed profits are deducted while calculating personal income from private income.

If national income is ₹15,00,000, transfer payments are ₹2,00,000, and income from public sector is ₹1,00,000, what is the private income?

If private income is ₹10,00,000, corporate tax is ₹1,00,000, and undistributed profits are ₹50,000, what is the personal income?

If private income is ₹12,00,000, corporate tax is ₹1,20,000, undistributed profits are ₹80,000, and government transfers to households are ₹50,000, what is the personal income?

List any two transfer incomes included in private income.

State any two components of private income.

Write the formula for calculating private income.