NATIONAL INCOME

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Last updated 1:49 PM on 1/27/25
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5 Terms

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<p>what is circular flow?</p>

what is circular flow?

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Problems in national ___ include unequal distribution of wealth and varying economic opportunities.

income

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What is NDP?
NDP stands for Net Domestic Product, which measures the value of all finished goods and services produced within a country's borders in a specific time period, minus depreciation.
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What are the key features of national income?

National income includes total income earned by a country's factors of production, considers both personal and corporate income, measures economic performance, and provides insight into living standards and economic growth.

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