explain the relationship between national income and welfare - Economics - Unit III- Employment Growth Informalisation and Other Issues

Question

explain the relationship between national income and welfare

Vanita Rana · Accepted Answer

Relationship between national income and welfare can be interpreted
in the way that national income is considered as an index of
economic welfare A rise in national income implies a rise in the
output/volume of the goods and services produced in an economy In
other words, a rise in the national income implies greater
availability of goods and services with the people and thus, a rise
in the standard of living or welfare of the people