Economics world

Loss= cost price - sale price.
# Cost price will be greater than sale price

Profit= sale price-cost price

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GNP=GDP+NFI
(Net factor Income)

Additional spending to the national-expenditure stream is called injection and it includes investments,govt expenditure,and exports.

A withdrawal from the income-expenditure stream is called leakage.And it includes savings,taxes,and imports.

Total quantity of goods and services produced in the economy is called aggregate supply.

Total demand for goods and services in the economy is called aggregate expenditure.

National income of a country is it's annual consumption and not its national production.

The flow of goods and services in a nation over a certain period of time, usually a year is called national income.

Monetary policy refers to the tools used by the government through the central bank to control the money supply.

Fiscal policy refers to the government policy concerning taxes and expenditure.