c
 is the social science that analyzes the production, distribution, and

consumption of goods and services.

 = Country¶s output

In most systems of national accounts the


 measures the ratio of nominal
(or current-price) GDP to the real (or chain volume) measure of GDP. The formula used
to calculate the deflator is:

In economics, the difference between the sale price of a product and the cost of
materials and outside services to produce it is the i
 

.





 

 is the market value of all goods and services
produced in one year by labor and property supplied by the residents of a country.[1] It is
supposed to reflect the average income of a nation's citizens[2]




  (NNP) is the total market value of all

final goods and services produced by residents in a country or other polity during a
given period (gross national product or GNP) minus depreciation. The net domestic
product (NDP) is the equivalent application of NNP within macroeconomics, and NDP is
equal to gross domestic product (GDP) minus depreciation: NDP = GDP - depreciation.
Depreciation (also known as consumption of fixed capital) measures the amount of
GNP that must be spent on new capital goods to maintain the existing physical capital
stock.

NNP is the amount of goods in a given year which can be consumed without reducing
future consumption. Setting part of NNP aside for investment permits capital stock
growth (see economic growth and capital formation), and greater future consumption.

NNP also equals total compensation of employees + net indirect tax paid on current
production + operating surplus.
º
Ñ variety of measures of 
 and output are used in economics to
estimate total economic activity in a country or region, including gross domestic
product (GDP), gross national product (GNP), and net national income (NNI).




 is defined by the United States' Bureau of Economic

Ñnalysis as income received by persons from all sources. It includes income received
from participation in production as well as from government and business transfer
payments. It is the sum of compensation of employees (received), supplements to
wages and salaries, proprietors' income with inventory valuation adjustment (IVÑ) and
capital consumption adjustment (CCÑdj), rental income of persons with CCÑdj, personal
income receipts on assets, and personal current transfer receipts, less contributions for
government social insurance. [1]
Total personal income is a key value in calculating per capita income.[2



 is the numerical quotient of national production by population, in
monetary terms.


 is total personal income minus personal current taxes.