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 KCSE business studies paper 2 revision questions and answers set 2

Explain four problems encountered when measuring national income using output approach

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Answer Text:
-Inaccuracy of output from private sector
-Difficult to estimate the value of subsistence and what goods and services include
-The problem of valuing depreciation
-The problem of distinguishing intermediate and primary output
-Fluctuating prices
-Valuing illegal activities
-Danger of double counting


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