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Economics. Gross Domestic Product ( GDP) is a monetary measure of the market value [2] of all the final goods and services produced and rendered in a specific time period by a country [3] or countries. [4] [5] [6] GDP is often used to measure the economic health of a country or region. [3] Definitions of GDP are maintained by several national ...
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 – also called as NNI at factor cost).
A net (sometimes written nett) value is the resultant amount after accounting for the sum or difference of two or more variables. In economics, it is frequently used to imply the remaining value after accounting for a specific, commonly understood deduction. In these cases it is contrasted with the term gross, which refers to the pre-deduction ...
Net national income encompasses the income of households, businesses, and the government. Net national income is defined as gross domestic product plus net receipts of wages, salaries and property income from abroad, minus the depreciation of fixed capital assets (dwellings, buildings, machinery, transport equipment and physical infrastructure ...
The gross world product (GWP), also known as gross world income (GWI), is the combined gross national income (previously, the "gross national product") of all the countries in the world. Because imports and exports balance exactly when considering the whole world, this also equals the total global gross domestic product (GDP).
Aggregate income is a form of GDP that is equal to Consumption expenditure plus net profits. 'Aggregate income' in economics is a broad conceptual term. It may express the proceeds from total output in the economy for producers of that output. There are a number of ways to measure aggregate income, [5] [6] but GDP is one of the best known and ...
In economics, gross value added (GVA) is the measure of the value of goods and services produced in an area, industry or sector of an economy. "Gross value added is the value of output minus the value of intermediate consumption; it is a measure of the contribution to GDP made by an individual producer, industry or sector; gross value added is the source from which the primary incomes of the ...
In economics, gross output ( GO) is the measure of total economic activity in the production of new goods and services in an accounting period. It is a much broader measure of the economy than gross domestic product (GDP), which is limited mainly to final output (finished goods and services). As of first-quarter 2019, the Bureau of Economic ...