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Home National Income and its Measurements

National Income and its Measurements:

 

Macro Economics and its Importance:

 

The term 'Macro' is derived from the Greek word 'Uakpo' which means large. Macro economics looks at the economy as a whole. Continue reading.

 

Concepts of National Income:

 

There are various concepts of national income. These are explained below one by one: Continue reading.

 

Methods of Computing/Measuring National Income:

 

There are three methods of measuring national income of a country. They yield the same result. These methods are: Continue reading.

 

Circular Flow of National Income in a Two Sector Economy:

 

A simple circular flow model of the macro economics containing two sectors (business and household) and two markets (product and factor) that illustrates the continuous movement of the payments for goods and services between producers and consumers. Continue reading.

 

Difficulties/Problems in the Measurement of National Income:

 

According to Kuznets, the measurement of national income is a complicated problem and is beset with the following difficulties. Continue reading.

 

Determinants of National Income or Factors Affecting the National Income:

 

There are many determinants or factors which influence the size of the national income. They, in brief, are as follows: Continue reading.

 

Gross Domestic Product as a Measure of Welfare/Growth/Development:

 

Gross Domestic product (GDP) is generally considered a best single measure of the value of output produced in the economy. The importance of GDP as a measure of good standard of living or welfare is as under: Continue reading.

 

Measurement of Gross Domestic Product in Current Price and Constant Price:

 

The gross domestic product (GDP) is the total market value of all the final goods and services produced within an economy in a given year. Continue reading.

 

 

 

Principles and Theories of Micro Economics
Definition and Explanation of Economics
Theory of Consumer Behavior
Indifference Curve Analysis of Consumer's Equilibrium
Theory of Demand
Theory of Supply
Elasticity of Demand
Elasticity of Supply
Equilibrium of Demand and Supply
Economic Resources
Scale of Production
Laws of Returns
Production Function
Cost Analysis
Various Revenue Concepts
Price and output Determination Under Perfect Competition
Price and Output Determination Under Monopoly
Price and Output Determination Under Monopolistic/Imperfect Competition
Theory of Factor Pricing OR Theory of Distribution
Rent
Wages
Interest
Profits
Principles and Theories of Macro Economics
National Income and Its Measurement
Principles of Public Finance
Public Revenue and Taxation
National Debt and Income Determination
Fiscal Policy
Determinants of the Level of National Income and Employment
Determination of National Income
Theories of Employment
Theory of International Trade
Balance of Payments
Commercial Policy
Development and Planning Economics
Introduction to Development Economics
Features of Developing Countries
Economic Development and Economic Growth
Theories of Under Development
Theories of Economic Growth
Agriculture and Economic Development
Monetary Economics and Public Finance
History of Money

 

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