Economics Maniac

Market Price vs Basic Price or Factor Cost.

Domestic vs National Income
GDP vs GNP

Investment and Depreciation

Source: Businessesbuzz

Circular Flow of Income in a 2 Sector Model of an Economy.

Capital Goods vs Consumer Goods

Transfer Income vs Factor Income.

Stock vs Flow in economics.

Intermediate vs final goods.

Nominal GDP is value of all the goods taken as current year price.

Real GDP is the value of all goods produced in a given year at a constant or base year price.

Nominal GDP may be seems growing but in reality it could be same or diminished due to inflation. If there is no inflation or there is a situation of deflation, then the Nominal GDP can taken as a growth indicator of an economy.

-Inzamul Sepoy

https://youtu.be/kIo-Ph2Bzqc

PPC or PPF | MICROECONOMICS | Doodle Video PPF or PPC(Production Possibilities Frontier or Curve)

What is Net Worth?

Net worth is the value of all the non-financial and financial assets owned by an individual or institution minus the value of all its outstanding liabilities.Since financial assets minus outstanding liabilities equal net financial assets, net worth can also be conveniently expressed as non-financial assets plus net financial assets. It can apply to companies, individuals, governments or economic sectors such as the sector of financial corporations or to entire countries.