It is an academic assignment on measures of national income and the negative effects of using the approaches to give the countries macroeconomic status
It describe about GDP and its components. Different branches of GDP and their components, also describing their difference and formula. Uses of GDP, arguments against GDP are discussed briefly.
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product, gross national product, net national income, and adjusted national income
It is an academic assignment on measures of national income and the negative effects of using the approaches to give the countries macroeconomic status
It describe about GDP and its components. Different branches of GDP and their components, also describing their difference and formula. Uses of GDP, arguments against GDP are discussed briefly.
A variety of measures of national income and output are used in economics to estimate total economic activity in a country or region, including gross domestic product, gross national product, net national income, and adjusted national income
National income is the money value of all the final goods and services produced by a country during a period of one year.
National income consists of a collection of different types of goods and services.
Since these goods are measured in different physical units it is not possible to add them together.
Thus we cannot state national income is so many millions of meters of cloth. Therefore, there is no way accept to reduce them to a common measure.
This common measure is money
National income is the sum of wages, rent, interest and profit or the sum of the earnings of the factors of production” – Shapiro
“National product is the sum total of final goods and services produced by labour and wealth of a nation during a period of one year”- Brooman
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Bills have a main role in point of sale procedure. It will help to track sales, handling payments and giving receipts to customers. Bill splitting also has an important role in POS. For example, If some friends come together for dinner and if they want to divide the bill then it is possible by POS bill splitting. This slide will show how to split bills in odoo 17 POS.
The Roman Empire A Historical Colossus.pdfkaushalkr1407
The Roman Empire, a vast and enduring power, stands as one of history's most remarkable civilizations, leaving an indelible imprint on the world. It emerged from the Roman Republic, transitioning into an imperial powerhouse under the leadership of Augustus Caesar in 27 BCE. This transformation marked the beginning of an era defined by unprecedented territorial expansion, architectural marvels, and profound cultural influence.
The empire's roots lie in the city of Rome, founded, according to legend, by Romulus in 753 BCE. Over centuries, Rome evolved from a small settlement to a formidable republic, characterized by a complex political system with elected officials and checks on power. However, internal strife, class conflicts, and military ambitions paved the way for the end of the Republic. Julius Caesar’s dictatorship and subsequent assassination in 44 BCE created a power vacuum, leading to a civil war. Octavian, later Augustus, emerged victorious, heralding the Roman Empire’s birth.
Under Augustus, the empire experienced the Pax Romana, a 200-year period of relative peace and stability. Augustus reformed the military, established efficient administrative systems, and initiated grand construction projects. The empire's borders expanded, encompassing territories from Britain to Egypt and from Spain to the Euphrates. Roman legions, renowned for their discipline and engineering prowess, secured and maintained these vast territories, building roads, fortifications, and cities that facilitated control and integration.
The Roman Empire’s society was hierarchical, with a rigid class system. At the top were the patricians, wealthy elites who held significant political power. Below them were the plebeians, free citizens with limited political influence, and the vast numbers of slaves who formed the backbone of the economy. The family unit was central, governed by the paterfamilias, the male head who held absolute authority.
Culturally, the Romans were eclectic, absorbing and adapting elements from the civilizations they encountered, particularly the Greeks. Roman art, literature, and philosophy reflected this synthesis, creating a rich cultural tapestry. Latin, the Roman language, became the lingua franca of the Western world, influencing numerous modern languages.
Roman architecture and engineering achievements were monumental. They perfected the arch, vault, and dome, constructing enduring structures like the Colosseum, Pantheon, and aqueducts. These engineering marvels not only showcased Roman ingenuity but also served practical purposes, from public entertainment to water supply.
The French Revolution, which began in 1789, was a period of radical social and political upheaval in France. It marked the decline of absolute monarchies, the rise of secular and democratic republics, and the eventual rise of Napoleon Bonaparte. This revolutionary period is crucial in understanding the transition from feudalism to modernity in Europe.
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2. Introduction of GDPIntroduction of GDP
The gross domestic product is one of the measure ofThe gross domestic product is one of the measure of
national income and output for given country’snational income and output for given country’s
economy.It is defined as total money value produced ineconomy.It is defined as total money value produced in
domestic territory of country during a year. Domesticdomestic territory of country during a year. Domestic
territory does not mean only geographical bondaries ofterritory does not mean only geographical bondaries of
economy.it is defined to include the following:-economy.it is defined to include the following:-
• Territory lying within the political frontiers,includingTerritory lying within the political frontiers,including
territorial water of country.territorial water of country.
• Ships and aircraft operated by the resident of country.Ships and aircraft operated by the resident of country.
• Oil and natural gas and floating platform operated by theOil and natural gas and floating platform operated by the
residentes of the country .residentes of the country .
G.D.P= C+G+I+(X-M)G.D.P= C+G+I+(X-M)
3. Types of GDPTypes of GDP
The following types of gdp:-The following types of gdp:-
• Gross domestic product at current pricesGross domestic product at current prices
and constant pricesand constant prices
• Gross domestic product at market price.Gross domestic product at market price.
• Gross domestic product at factor cost.Gross domestic product at factor cost.
4. GDP at constant prices and current pricesGDP at constant prices and current prices
When the privailing prices are used forWhen the privailing prices are used for
measuring gdp,we call it gdp at current price butmeasuring gdp,we call it gdp at current price but
when we use the prices of some base year forwhen we use the prices of some base year for
measuring the value of gdp, we call it gdp atmeasuring the value of gdp, we call it gdp at
contant price.contant price.
5. GDP at market priceGDP at market price
• According is Dernburg ”Gross domesticAccording is Dernburg ”Gross domestic
product at market price is defined as theproduct at market price is defined as the
market value of the output of final goodsmarket value of the output of final goods
and services produced in the domesticand services produced in the domestic
territory of a country by all the producersterritory of a country by all the producers
during an accounting year.”during an accounting year.”
6. Different types of GDP at M.PDifferent types of GDP at M.P
Product method Expenditure method Income methodProduct method Expenditure method Income method
CC
GG
II
X-MX-M
CC
GG
II
X-MX-M
Net indirect taxNet indirect tax
DeprecationDeprecation
Mixed incomeMixed income
ProfitProfit
InterestInterest
RentRent
Compensation ofCompensation of
employeesemployees
7. GDP ATGDP AT MARKETMARKET PRICEPRICE
g.d.p at market price=g.n.p at market price-net factor income from abroadg.d.p at market price=g.n.p at market price-net factor income from abroad
Following data of indian economy.Following data of indian economy.
Rs.croreRs.crore
Compensation of employees 49651Compensation of employees 49651
Interest 10209Interest 10209
Rent 4794Rent 4794
Profit and dividends 6926Profit and dividends 6926
Mixed income 50416Mixed income 50416
Indirect tax 20092Indirect tax 20092
Subsidy 3161Subsidy 3161
Depreciation of capital 9751Depreciation of capital 9751
Net factor income from abroad 7Net factor income from abroad 7
G.D.P at market priceG.D.P at market price = 148671-7= 148671-7
138920138920
8. GDP at factor costGDP at factor cost
According is Hanson ” Gross domestic product atAccording is Hanson ” Gross domestic product at
factor cost is the sum of net value added by allfactor cost is the sum of net value added by all
the producers in domestic territory of the countrythe producers in domestic territory of the country
and the consumption of fixed capital during anand the consumption of fixed capital during an
accounting year.”accounting year.”
9. GDP at factor costGDP at factor cost
G.D.P of factor cost=g.d.p of market price-G.D.P of factor cost=g.d.p of market price-
Net indirect taxNet indirect tax
=14878-(20092-3161)=14878-(20092-3161)
=131747 cr.=131747 cr.
