Economics 101 (#24) National Income

A term that has entered back into every day eco-speak is ‘national income‘ which quantifies the size of an economy. Its defined as the total income earned by permanent residents of a country in a year OR the total value of economic output produced over a year OR the total spend on output…

Pretty flexible definition then! Each has its pros and cons but ALL are important to know.

Heres the PDF PIIGSTY Econ 101 #24 National Income

These figures can all be very useful but there are also limitations to measuring an economy…



Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: