NATIONAL INCOME 3

Introduction 3
Circular flow of Economic activities and Income 3
Two sector Model 3
Four Sector Model 3
Concept of National Income 3
Gross domestic product (GDP) 3
GDP in Factor price and GDP in Market price 3
Gross National Product (GNP) 3
Net Domestic Product (NDP) and Net National Product (NNP) 3
NNP in factor price (or National Income) 3
Per capita Income 3
Personal Disposable Income 3
Measurement of National Income 3
Product (or Output) Method 3
Final Product method 3
Value added method 3
Limitation of Product Method 3
Problem of double counting 3
Not applicable to tertiary sectors 3
Exclusion of Non-Marketed products 3
Income method 4
Limitation of Income method 4
Exclusion of Non-Monetary income 4
Exclusion of Non-Marketed services 4
Expenditure Method 4
Consumption expenditure 4
Investment Expenditure 4
Government expenditure 4
All exports 4
Limitation of Expenditure Method 4
Do not consider Barter system 4
Excludes own consumption 4
Affected by inflation 4
Uses of National Income 4
Difficulties in measuring National Income 4
Non Monetary Transactions 4
Unorganized Sector 4
Multiple Source of Income 4
Classification of Goods and Services 4
Inadequate Data 4


NATIONAL INCOME
INTRODUCTION
CIRCULAR FLOW OF ECONOMIC ACTIVITIES AND INCOME
TWO SECTOR MODEL
FOUR SECTOR MODEL
CONCEPT OF NATIONAL INCOME
GROSS DOMESTIC PRODUCT (GDP)
GDP IN FACTOR PRICE AND GDP IN MARKET PRICE
GROSS NATIONAL PRODUCT (GNP)
NET DOMESTIC PRODUCT (NDP) AND NET NATIONAL PRODUCT (NNP)
NNP IN FACTOR PRICE (OR NATIONAL INCOME)
PER CAPITA INCOME
PERSONAL DISPOSABLE INCOME
MEASUREMENT OF NATIONAL INCOME
PRODUCT (OR OUTPUT) METHOD
FINAL PRODUCT METHOD
VALUE ADDED METHOD
LIMITATION OF PRODUCT METHOD
PROBLEM OF DOUBLE COUNTING
NOT APPLICABLE TO TERTIARY SECTORS
EXCLUSION OF NON-MARKETED PRODUCTS
INCOME METHOD
LIMITATION OF INCOME METHOD
EXCLUSION OF NON-MONETARY INCOME
EXCLUSION OF NON-MARKETED SERVICES
EXPENDITURE METHOD
CONSUMPTION EXPENDITURE
INVESTMENT EXPENDITURE
GOVERNMENT EXPENDITURE
ALL EXPORTS
LIMITATION OF EXPENDITURE METHOD
DO NOT CONSIDER BARTER SYSTEM
EXCLUDES OWN CONSUMPTION
AFFECTED BY INFLATION
USES OF NATIONAL INCOME
DIFFICULTIES IN MEASURING NATIONAL INCOME
NON MONETARY TRANSACTIONS
UNORGANIZED SECTOR
MULTIPLE SOURCE OF I NCOME
CLASSIFICATION OF GOODS AND SERVICES
INADEQUATE DATA