1. Development
2. Economic development- Economic development generally refers to the sustained, concerted actions of policymakers and communities that promote the standard of living and economic health of a specific area.
3. Gross national product- Gross National Product (GNP) is the market value of all products and services produced in one year by labour and property supplied by the residents of a country.
4. Gross domestic Product- Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period.
5. Market Value- Market value is the price at which an asset would trade in a competitive auction setting.
6. Final Goods- final goods are goods that are ultimately consumed rather than used in the production of another good.
7. Intermediate goods- Intermediate goods or producer goods or semi-finished products are goods used as inputs in the production of other goods, such as partly finished goods.
8. Current Price GNP-
9. Nominal GNP- measure of the country's permanent residents. The Nominal Gross National Product involves the country's consumption of goods and amount exported and government expenses, like Social Security.
10. Money GNP- A version of the GNP that has been adjusted for the effects of inflation
11. Constant Price GNP-
12. Real GNP
13. Price index- measure of relative price changes, consisting of a series of numbers arranged so that a comparison between the values for any two periods or places will show the average change in prices between periods or the average difference in prices between places.
14. Final goods and services approach-
15. Income approach- Method of appraising real estate based on the property’s anticipated future income.
16. Expenditure approach- is compute by GDP by adding the money spent by buyers on final goods and services.
17. Wages - is a form of remuneration paid by an employer to an employee calculated on some piece or unit basis.
18. Salaries- A salary is a form of remuneration paid periodically by an employer to an employee, the amount and frequency of which may be specified in an employment contract.
19. Rents- the excess of the produce or return yielded by a given piece of cultivated land over the cost of production; the yield from a piece of land or real estate.
20. Interests- Interest is a fee paid by a borrower of assets to the owner as a form of compensation for the use of the assets.
21. Profits- The positive gain from an investment or business operation after subtracting for all expenses.
22. Households-
23. Business firms- the members of a business organization that owns or operates one or more establishments; "he worked for a brokerage house"
24. Government-
25. Rest of the work-
26. Consumption- Process of using consumer products in order to satisfy desires and real or imagined needs so that the products are used up, transformed, or deteriorated in such a manner as not to be either reusable or recognizable in their original form.
27. Investment- investment is the amount purchased per unit time of goods which are not consumed but are to be used for future production
28. Net Private Domestic Investment-
29. Government Expenditure-
30. Government purchase of goods and services
31. Exports - derived from the conceptual meaning as to ship the goods and services out of the port of a country.
32. Imports- is derived from the conceptual meaning as to bring in the goods and services into the port of a country.
33. Net Exports- The value of a country's total exports minus the value of its total imports. It is used to calculate a country's aggregate expenditures, or GDP, in an open economy.
34. Depreciation-
35. Capital consumption allowances-
36. Net National Product-
37. Indirect Taxes- A tax, such as a sales tax or value-added tax, that is levied on goods or services rather than individuals and is ultimately paid by consumers in the form of higher prices.
38. Government Subsidies-
39. National Income- The income earned by a country's people, including labor and capital investment.
40. Corporating Income-
41. Corporating income taxes-
42. Social Security Premium-
43. Transfer Payments- Money given by the government to its citizens. Examples include Social Security, unemployment compensation, welfare, and disability payments.
44. Government Transfer Payments-
45. Public Transfer Payments-
46. Business Transfer Payments- A payment by the business sector to the household sector without any corresponding production or expectations of production.
47. Private Transfer Payments- One-way payment of money for which no money, good, or service is received in exchange.
48. Dividends- A taxable payment declared by a company's board of directors and given to its shareholders out of the company's current or retained earnings, usually quarterly.
49. Distributed Corporate Profits-
50. Personal Income- Total compensation received by an individual. Personal income includes compensation from a number of sources - salaries, wages and bonuses received from employment or self-employment.
51. Personal Income taxes-
52. Disposable Income- The amount of income left to an individual after taxes have been paid, available for spending and saving.
53. Personal Savings- Current disposable personal income less personal expenditures.
54. Witheld Consumption-
55. Personal Consumption Expenditures-