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Briefly explain the concept of a mixed income of the self-employed. |
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Answer» It is the income of self-employed persons like doctors, lawyers, chartered accountants, barbers, shopkeepers, farmers etc. These persons work both as producers and as suppliers of factor services to themselves independently. Some part of their income is wage income and the rest relates to capital income. Therefore their income is called as mixed income. Mixed income is generated in various sectors of the economy. The largest part of the mixed income is generated in the primary sector of the economy. Mixed income is included in the measurement of national income. |
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