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i. Political stability: peace and stability in stability in a country promotes confidence and encourage entrepreneurs to engage in production activities leading to high level of national income.
ii. Labor supply : a country with large and skilled working labor force is likely to produce more goods and services which would increase the national income.
iii. Natural resource endowment: the quality and quantity of natural resources like gold availability in a country may influence the country’s national income.
iv. Capital: the size of a country’s national income may depend on the amount and quality of capital investment in the country.
v. Foreign investments: a country that has highly invested in foreign countries is likely to experience a high level of national income due to huge net inflow.
vi. Availability of entrepreneurs: Entrepreneurs in a country organize other factors of production in the right proportions leading to increased output.
vii. Level of technology: the level technology used in a country determines the quality of goods and services produced in that country.
viii. Attitude of citizens towards work. A country whose citizens have a negative attitude towards work is likely to register a low level of national income.
ix. Size of the subsistence sector: where the subsistence sector is large the true level of national income may be understated.
joseph rimiru answered the question on December 28, 2017 at 14:00
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