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National accounts

World War 2

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ECON Topic/Objective: Section 3 Name: Jack Joa Essential Question: What is Measurement of Economic Performance? Questions: Notes: Module 10 The Circular Flow & Gross Domestic Product The national income and product accounts, (often referred as the national accounts) -A household (consists of either an individual or a group of people who share their income) -A firm(organization that produces goods and services for sale, it also employs members of households) -Product markets are where goods and services are bought and sold. -Factor markets are where resources, especially capital and labor, are bought and sold. -Consumer spending- is household spending on goods and services. -a stock is a share in the ownership of a company held by a shareholder.

GDP

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Cornell Notes Topic / Objective: Name: Jack Andrew Joa Gross Domestic Product Notes Class: Economics 1100 ? 01: Introduction To The American Economy Period: 1st Period Date: Friday February 10th, 2017 Essential Question: Gross Domestic Product Questions: Notes: The Circular Flow And The national income and product accounts, often referred as the national accounts. Gross Domestic Product: A Household: Consists of either an individual or a group of people who share their income. A Firm: Organization that produces goods and services for sale, it also employs members of households. Product Markets: Where goods and services are bought and sold. Factor Markets: Where resources, especially capital and labor, are bought and sold.
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