A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product (GDP), gross national product (GNP), net national income (NNI), and adjusted national income (NNI* adjusted for natural resource depletion). All are specially concerned with counting the total amount of goods and services produced within some "boundary". The boundary is usually defined by geography or citizenship, and may also restrict the goods and services that are counted. For instance, some measures count only goods & services that are exchanged for money, excluding bartered goods, while other measures may attempt to include bartered goods by imputing monetary values to them
Economics is a discipline that can help us answer these questions. Economics can actually be defined a few different ways: it’s the study of scarcity, the study of how people use resources, or the study of decision-making. Economics often involves topics like wealth, finance, recessions, and banking, leading to the misconception that economics is all about money and the stock market. Actually, it’s a much broader discipline that helps us understand historical trends, interpret today’s headlines, and make predictions for coming decades.
User Enrolled: 430
Period : 120 days
Instructor : Gagandeep Singh
Teaching from Last 9 + Years
MBA - FINANCE, MA ECONOMICS , BA (HONS) BUSINESS ECONOMICS
Certified Level III Faculty from Sikkim Manipal University
National Income and Related Aggregate counts for 15 marks. Regarding marks concepts should be very clear here. In this session you will be doimg revision of Microeconomics and begin with macroeconomic. Gagandeep Sir in a very friendly way carried the entire session. He has explained everything that can be asked in the exams and this video will surely clear all your doubts.