concepts of GDP,GNP,NDP,NNP(at market price & factor cost), national disposable income(gross & net)
Answers
GNP:
is the current market value of all final goods & services produced in a country during a given period of time the main components are goods & services purchase by the consumer, investments, government expenditure, net income from abroad, incomes earned through international trade.
NNP:
the country stock or capital goes under some wear & tear, this user cost or depreciation cost must be subtracted from the GNP to obtain NNP at market price.
GDP:
this is a part of GDP produced within a country in a given period of time. it is essential that the production of goods & services must take place within the country.
DISPOSABLE INCOME:
it is a part of personal income which is left with the individual after the payment of all direct taxes like income tax, property tax, etc. it is either spent for consumption or savings.