The document discusses key concepts related to national income:
- Domestic income generated within a country is called domestic product or domestic income. Income generated abroad by residents is called factor income from abroad (FIFA). Income generated within the domestic territory by non-residents is called factor income to abroad (FITA).
- National income or national product is the combined income from the domestic territory and FIFA, minus FITA.
- There are three main methods to calculate national income: income method, expenditure method, and value added method.
- The income method measures national income based on payments received by factors of production. The expenditure method measures aggregate demand or total spending in the economy. The value added method
National income measures the total value of goods and services produced in a country over a period of time. It is important for economists to measure national income levels and growth rates to analyze a country's economic growth, average living standards, and income inequality. National income can be calculated using three methods: the product method, which measures final output; the income method, which sums incomes from factors of production; and the expenditure method, which sums consumption, investment, and net exports. There are challenges to accurately measuring national income, such as problems of double counting, transfer payments, and income generated by foreign firms. National income statistics are used for formulating economic policies, studying economic structure, making inter-sectoral and international comparisons, and as
National income measures the total value of goods and services produced in an economy over a period of time. It is important for economists to measure national income to analyze economic growth, changes in living standards, and income inequality. National income can be measured using the product method, income method, or expenditure method. Each method involves calculating GDP, GNP, NNP, and NDP to determine the total national income. There are challenges to accurately measuring national income, such as defining what is included, avoiding double counting, and calculating depreciation. National income statistics are used for economic policy formulation, analyzing economic structure, making comparisons over time and between countries, and as an indicator of economic welfare.
This document discusses national income, including definitions, measurement approaches, and importance. National income is the total value of goods and services produced in an economy over a period of time. It can be measured using the product, income, and expenditure methods. The product method sums the value of final goods and services to calculate GDP, while the income method sums payments to factors of production. The expenditure method sums consumption, investment, government spending, and net exports. National income statistics are important for assessing economic growth, living standards, and income inequality.
National income measures the total value of goods and services produced in an economy over a period of time. It is important for economists to measure national income to analyze economic growth, living standards, and income inequality. There are several concepts for calculating national income, including gross domestic product (GDP), gross national product (GNP), personal income, and per capita income. National income can be measured using the product, income, and expenditure methods, each with their own steps and considerations to account for issues like double counting. Calculating national income precisely poses challenges but the statistics are useful for economic planning, analysis, and international comparisons.
National income is the total value of final goods and services produced in a country in a year. It can be measured using the value added method, income method, or expenditure method. The value added method sums the value added by each producing unit. The income method sums all factor incomes including wages, rent, interest, and profit. The expenditure method sums all final expenditures including household consumption, government spending, investment, and net exports. To accurately measure national income, intermediate goods must be excluded and issues like double counting must be addressed. National income can be measured at current or constant prices.
National income measures the total value of goods and services produced within an economy over a period of time without duplication. It is important for economists to measure national income to analyze economic growth, standard of living, and income inequality. National income can be measured using the product method, income method, or expenditure method. Each method involves estimating the total GDP, GNP, or NNP through summing the value of final goods/services, total income, or total expenditures respectively in an economy. There are challenges to accurately measuring national income such as avoiding double counting, accounting for transfer payments, and calculating depreciation. National income statistics are used for economic policy formulation, studying economic structure, and comparing economic welfare across countries.
This document discusses different methods of measuring national income:
1) Production method measures the total value added by all producing units. It avoids double counting by excluding intermediate goods.
2) Income method measures total factor incomes (wages, rent, interest, profit). It equals the sum of compensation of employees, operating surplus, and mixed income.
3) Expenditure method measures total final expenditures including household consumption, government spending, investment and net exports. This equals gross domestic product.
National income measures the total value of goods and services produced within an economy over a period of time. It is important for economists to measure national income to analyze economic growth, changes in living standards, and income inequality. There are several methods to calculate national income, including the product method, income method, and expenditure method. While measurement of national income provides useful information, it also poses challenges such as defining what constitutes a nation's production, avoiding double counting, and accurately calculating depreciation. National income statistics have various uses including formulating economic policies, studying economic structure, and making international comparisons.
National income measures the total value of goods and services produced in a country over a period of time. It is important for economists to measure national income levels and growth rates to analyze a country's economic growth, average living standards, and income inequality. National income can be calculated using three methods: the product method, which measures final output; the income method, which sums incomes from factors of production; and the expenditure method, which sums consumption, investment, and net exports. There are challenges to accurately measuring national income, such as problems of double counting, transfer payments, and income generated by foreign firms. National income statistics are used for formulating economic policies, studying economic structure, making inter-sectoral and international comparisons, and as
National income measures the total value of goods and services produced in an economy over a period of time. It is important for economists to measure national income to analyze economic growth, changes in living standards, and income inequality. National income can be measured using the product method, income method, or expenditure method. Each method involves calculating GDP, GNP, NNP, and NDP to determine the total national income. There are challenges to accurately measuring national income, such as defining what is included, avoiding double counting, and calculating depreciation. National income statistics are used for economic policy formulation, analyzing economic structure, making comparisons over time and between countries, and as an indicator of economic welfare.
This document discusses national income, including definitions, measurement approaches, and importance. National income is the total value of goods and services produced in an economy over a period of time. It can be measured using the product, income, and expenditure methods. The product method sums the value of final goods and services to calculate GDP, while the income method sums payments to factors of production. The expenditure method sums consumption, investment, government spending, and net exports. National income statistics are important for assessing economic growth, living standards, and income inequality.
National income measures the total value of goods and services produced in an economy over a period of time. It is important for economists to measure national income to analyze economic growth, living standards, and income inequality. There are several concepts for calculating national income, including gross domestic product (GDP), gross national product (GNP), personal income, and per capita income. National income can be measured using the product, income, and expenditure methods, each with their own steps and considerations to account for issues like double counting. Calculating national income precisely poses challenges but the statistics are useful for economic planning, analysis, and international comparisons.
National income is the total value of final goods and services produced in a country in a year. It can be measured using the value added method, income method, or expenditure method. The value added method sums the value added by each producing unit. The income method sums all factor incomes including wages, rent, interest, and profit. The expenditure method sums all final expenditures including household consumption, government spending, investment, and net exports. To accurately measure national income, intermediate goods must be excluded and issues like double counting must be addressed. National income can be measured at current or constant prices.
National income measures the total value of goods and services produced within an economy over a period of time without duplication. It is important for economists to measure national income to analyze economic growth, standard of living, and income inequality. National income can be measured using the product method, income method, or expenditure method. Each method involves estimating the total GDP, GNP, or NNP through summing the value of final goods/services, total income, or total expenditures respectively in an economy. There are challenges to accurately measuring national income such as avoiding double counting, accounting for transfer payments, and calculating depreciation. National income statistics are used for economic policy formulation, studying economic structure, and comparing economic welfare across countries.
This document discusses different methods of measuring national income:
1) Production method measures the total value added by all producing units. It avoids double counting by excluding intermediate goods.
2) Income method measures total factor incomes (wages, rent, interest, profit). It equals the sum of compensation of employees, operating surplus, and mixed income.
3) Expenditure method measures total final expenditures including household consumption, government spending, investment and net exports. This equals gross domestic product.
National income measures the total value of goods and services produced within an economy over a period of time. It is important for economists to measure national income to analyze economic growth, changes in living standards, and income inequality. There are several methods to calculate national income, including the product method, income method, and expenditure method. While measurement of national income provides useful information, it also poses challenges such as defining what constitutes a nation's production, avoiding double counting, and accurately calculating depreciation. National income statistics have various uses including formulating economic policies, studying economic structure, and making international comparisons.
National income is the total value of goods and services produced in an economy over a period of time. It can be measured using the final product approach, value added approach, and expenditure approach. The final product approach sums the market value of all final goods and services. The value added approach sums value added at each stage of production. The expenditure approach sums all final expenditures on goods and services, including consumption, investment, government spending, and net exports. There are challenges in accurately measuring national income, such as double counting, transfer payments, and difficulties in valuing non-monetary activities.
National income refers to the total value of all final goods and services produced within a country in a year. It is measured using three approaches: product, income, and expenditure. The product approach sums the market value of final goods and services to get GDP. The income approach sums wages, rents, interest, and profits to get NDP. The expenditure approach sums consumption, investment, government spending, and net exports to get GDP. National income statistics are important for economic analysis and policymaking but have challenges to measure accurately due to issues like double counting and defining what to include.
National income can be measured using the product, income, and expenditure methods. Key concepts include GDP, GNP, NNP, personal income, disposable income, and per capita income. GDP is the total value of final goods and services produced domestically in a year. GNP includes net income from abroad. NNP deducts depreciation from GNP. Personal income subtracts certain items and adds transfers to national income. Disposable income deducts direct taxes from personal income.
The document discusses key concepts related to measuring national income, including:
1) Gross National Product (GNP) is the total value of all final goods and services produced by a nation's resources in a year, including income earned abroad.
2) Gross Domestic Product (GDP) measures production within a nation's borders, regardless of ownership, and excludes income earned abroad.
3) National income statistics are used for economic planning, reviewing changes in living standards over time, comparing economic performance between countries, and appraising economic growth.
This document provides an overview of key concepts related to measuring national income, including definitions of gross domestic product, net domestic product, gross national product, national income, and methods for calculating national income. It discusses three main methods: the product method, income method, and expenditure method. It also outlines some difficulties in computing national income and its key uses, such as for economic policy, planning, comparing standards of living, and examining price fluctuations.
The document provides information on various macroeconomic concepts related to national income and its calculation. It defines key terms like intermediate goods, final goods, capital goods, consumption goods, gross investment, depreciation, stock and flow variables. It explains the circular flow of income between households and firms. It also describes methods of calculating national income including the value added method and income method. Examples are provided to illustrate the calculation of GDP, GNP, NDP and national income using both methods.
This document provides an overview of key concepts related to measuring national income, including:
1) It defines national income as the total market value of all final goods and services produced in an economy in a year, or the total income earned by residents of a country during an accounting year.
2) It outlines several concepts used to measure national income, such as gross domestic product, net domestic product, gross national product, and per capita income.
3) It describes three main methods for measuring national income: the product method, income method, and expenditure method. National income estimates provide important information for economic policy, planning, comparing living standards, and more.
The document discusses different methods to measure Gross Domestic Product (GDP) including the expenditure method, income method, and value added method. It provides examples calculating GDP using transactions of two companies, Orange Inc. and Juice Inc. GDP can be measured at market price using expenditure or value added methods, and at factor cost using the income method. Real GDP is used to eliminate the effect of inflation and compare economic activity over time. [END SUMMARY]
This presentation discusses gross domestic product (GDP) and how it is calculated. GDP is a monetary measure of the market value of all final goods and services produced within a country in a given period. It can be determined using three approaches: expenditure, production, and income. The expenditure approach adds up consumption, investment, government purchases, and net exports. The production approach estimates the value added by each sector and sums them. The income approach adds up compensation of employees, rents, investment, and proprietors' income. Nominal GDP uses current prices while real GDP uses constant prices to adjust for inflation.
Lecture 3 meaurment of gdp and precautionsHaroon875457
This document provides information on measuring Gross Domestic Product (GDP) using three approaches: the production, expenditure, and income approaches. It discusses how GDP is calculated under each approach and defines key terms. It also outlines difficulties in measuring GDP, such as avoiding double counting, excluding non-production transactions, and not including income from illegal activities or non-market activities. The document concludes with a practice question asking the reader to calculate various national income measures using data provided.
The document discusses methods for measuring national income and defines key terms. National income is defined as the sum of factor incomes earned by residents within and outside the country in a year. Gross domestic product is differentiated from net domestic product by deducting depreciation from GDP. Market price GDP is differentiated from factor cost GDP by deducting indirect taxes from the former. National income is calculated by adding net factor income from abroad to domestic income. Domestic income has three main components - compensation of employees, operating surplus, and mixed income of self-employed individuals.
CU M Com-MEBE-Mod-I-National Income Accounting-Lecture-3Dr. Subir Maitra
This document provides sample problems and explanations related to national income accounting concepts. It begins with 16 questions asking students to explain or demonstrate concepts like gross domestic product, national income, value added, the basic macroeconomic identity for an open economy, and deriving personal income from national income. It then provides sample numerical problems demonstrating how to calculate GDP, NDP, NI and other measures using the value added, income and expenditure methods. It concludes with abbreviations commonly used in national income accounting.
National income is the total value of all goods and services produced in a country in a year. It can be measured using three approaches: the expenditure approach, which adds up personal consumption, investment, government spending, and net exports; the income approach, which adds up wages and salaries, rents, profits, interest, and dividends; and the product approach, which measures the net value added of different sectors of the economy. National income includes GDP, GNP, NNP, and other metrics, and can be used to calculate personal and disposable personal income.
This document discusses key concepts in national income accounting including GDP, GNP, NNP, personal income, and disposable personal income. It explains how GDP is calculated using the expenditure, income, and output approaches. It outlines the circular flow of income and payments between firms, households, and the government. It also distinguishes between nominal and real GDP and defines per capita GDP as a measure of average income.
This document defines national income and provides explanations from various economists. It discusses key concepts related to measuring national income such as GDP, GNP, NNP, personal income, and methods of avoiding double counting. Census of production, income, and expenditure methods for measuring national income are described. Factors that determine national income and difficulties calculating it are also outlined.
This document discusses key concepts in microeconomics and national income accounting:
- Microeconomics is the study of how individuals, households, firms, and governments make economic decisions and how their interactions in markets determine prices and quantities of goods and services, allocation of resources, and distribution of goods and income.
- National income accounting measures the total value of all final goods and services produced in a nation in a given period of time. Key concepts include GDP, GNP, NDP, NNP, GDP/GNP at market price and factor cost.
- Personal income, disposable income, private income are further breakdowns of national income accounting that measure income available to individuals/households after accounting for various
CHAPTER 2 NATIONAL INCOME AND OUTPUT.pptx2022808696
The document provides an overview of key concepts related to measuring national income, including:
1) It defines national income as the total market value of final goods and services produced in an economy in a period of time, as measured by GDP.
2) It discusses the circular flow of income and how income is generated and spent among households, firms, and other sectors in an economy.
3) It outlines three main approaches to measuring national income - expenditure, income, and output approaches - and provides examples of calculating GDP using each.
This document discusses various concepts and methods for measuring macroeconomic aggregates such as GDP, GNP, and national income. It defines GDP as the total market value of final goods and services produced domestically during a given period, while GNP includes the domestic production plus net income from abroad. The document outlines the output, expenditure, and income methods for calculating these aggregates and discusses related concepts like nominal versus real GNP, price indices, and difficulties in measurement.
The expenditure method is the most widely used approach for estimating GDP. GDP is calculated by summing expenditures on final goods and services, including:
1) Consumer spending (C)
2) Government spending (G)
3) Business investment (I)
4) Net exports (Exports - Imports) (NX)
Using this formula: GDP = C + G + I + NX
Several expenditures are excluded from this calculation, such as purchases of used goods, financial assets, and transfers. The document provides examples of calculating GDP using expenditure data.
Measuring National Output and National IncomeNoel Buensuceso
The document discusses key concepts related to measuring national output and national income. It defines GDP as the total market value of all final goods and services produced within a country in a given period. GDP can be calculated using the expenditure approach, which sums consumer spending, investment, government spending, and net exports, or the income approach, which sums compensation, profits, interest, and rents. The document also discusses related concepts like GNP, NNP, personal income, and disposable personal income.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
National income is the total value of goods and services produced in an economy over a period of time. It can be measured using the final product approach, value added approach, and expenditure approach. The final product approach sums the market value of all final goods and services. The value added approach sums value added at each stage of production. The expenditure approach sums all final expenditures on goods and services, including consumption, investment, government spending, and net exports. There are challenges in accurately measuring national income, such as double counting, transfer payments, and difficulties in valuing non-monetary activities.
National income refers to the total value of all final goods and services produced within a country in a year. It is measured using three approaches: product, income, and expenditure. The product approach sums the market value of final goods and services to get GDP. The income approach sums wages, rents, interest, and profits to get NDP. The expenditure approach sums consumption, investment, government spending, and net exports to get GDP. National income statistics are important for economic analysis and policymaking but have challenges to measure accurately due to issues like double counting and defining what to include.
National income can be measured using the product, income, and expenditure methods. Key concepts include GDP, GNP, NNP, personal income, disposable income, and per capita income. GDP is the total value of final goods and services produced domestically in a year. GNP includes net income from abroad. NNP deducts depreciation from GNP. Personal income subtracts certain items and adds transfers to national income. Disposable income deducts direct taxes from personal income.
The document discusses key concepts related to measuring national income, including:
1) Gross National Product (GNP) is the total value of all final goods and services produced by a nation's resources in a year, including income earned abroad.
2) Gross Domestic Product (GDP) measures production within a nation's borders, regardless of ownership, and excludes income earned abroad.
3) National income statistics are used for economic planning, reviewing changes in living standards over time, comparing economic performance between countries, and appraising economic growth.
This document provides an overview of key concepts related to measuring national income, including definitions of gross domestic product, net domestic product, gross national product, national income, and methods for calculating national income. It discusses three main methods: the product method, income method, and expenditure method. It also outlines some difficulties in computing national income and its key uses, such as for economic policy, planning, comparing standards of living, and examining price fluctuations.
The document provides information on various macroeconomic concepts related to national income and its calculation. It defines key terms like intermediate goods, final goods, capital goods, consumption goods, gross investment, depreciation, stock and flow variables. It explains the circular flow of income between households and firms. It also describes methods of calculating national income including the value added method and income method. Examples are provided to illustrate the calculation of GDP, GNP, NDP and national income using both methods.
This document provides an overview of key concepts related to measuring national income, including:
1) It defines national income as the total market value of all final goods and services produced in an economy in a year, or the total income earned by residents of a country during an accounting year.
2) It outlines several concepts used to measure national income, such as gross domestic product, net domestic product, gross national product, and per capita income.
3) It describes three main methods for measuring national income: the product method, income method, and expenditure method. National income estimates provide important information for economic policy, planning, comparing living standards, and more.
The document discusses different methods to measure Gross Domestic Product (GDP) including the expenditure method, income method, and value added method. It provides examples calculating GDP using transactions of two companies, Orange Inc. and Juice Inc. GDP can be measured at market price using expenditure or value added methods, and at factor cost using the income method. Real GDP is used to eliminate the effect of inflation and compare economic activity over time. [END SUMMARY]
This presentation discusses gross domestic product (GDP) and how it is calculated. GDP is a monetary measure of the market value of all final goods and services produced within a country in a given period. It can be determined using three approaches: expenditure, production, and income. The expenditure approach adds up consumption, investment, government purchases, and net exports. The production approach estimates the value added by each sector and sums them. The income approach adds up compensation of employees, rents, investment, and proprietors' income. Nominal GDP uses current prices while real GDP uses constant prices to adjust for inflation.
Lecture 3 meaurment of gdp and precautionsHaroon875457
This document provides information on measuring Gross Domestic Product (GDP) using three approaches: the production, expenditure, and income approaches. It discusses how GDP is calculated under each approach and defines key terms. It also outlines difficulties in measuring GDP, such as avoiding double counting, excluding non-production transactions, and not including income from illegal activities or non-market activities. The document concludes with a practice question asking the reader to calculate various national income measures using data provided.
The document discusses methods for measuring national income and defines key terms. National income is defined as the sum of factor incomes earned by residents within and outside the country in a year. Gross domestic product is differentiated from net domestic product by deducting depreciation from GDP. Market price GDP is differentiated from factor cost GDP by deducting indirect taxes from the former. National income is calculated by adding net factor income from abroad to domestic income. Domestic income has three main components - compensation of employees, operating surplus, and mixed income of self-employed individuals.
CU M Com-MEBE-Mod-I-National Income Accounting-Lecture-3Dr. Subir Maitra
This document provides sample problems and explanations related to national income accounting concepts. It begins with 16 questions asking students to explain or demonstrate concepts like gross domestic product, national income, value added, the basic macroeconomic identity for an open economy, and deriving personal income from national income. It then provides sample numerical problems demonstrating how to calculate GDP, NDP, NI and other measures using the value added, income and expenditure methods. It concludes with abbreviations commonly used in national income accounting.
National income is the total value of all goods and services produced in a country in a year. It can be measured using three approaches: the expenditure approach, which adds up personal consumption, investment, government spending, and net exports; the income approach, which adds up wages and salaries, rents, profits, interest, and dividends; and the product approach, which measures the net value added of different sectors of the economy. National income includes GDP, GNP, NNP, and other metrics, and can be used to calculate personal and disposable personal income.
This document discusses key concepts in national income accounting including GDP, GNP, NNP, personal income, and disposable personal income. It explains how GDP is calculated using the expenditure, income, and output approaches. It outlines the circular flow of income and payments between firms, households, and the government. It also distinguishes between nominal and real GDP and defines per capita GDP as a measure of average income.
This document defines national income and provides explanations from various economists. It discusses key concepts related to measuring national income such as GDP, GNP, NNP, personal income, and methods of avoiding double counting. Census of production, income, and expenditure methods for measuring national income are described. Factors that determine national income and difficulties calculating it are also outlined.
This document discusses key concepts in microeconomics and national income accounting:
- Microeconomics is the study of how individuals, households, firms, and governments make economic decisions and how their interactions in markets determine prices and quantities of goods and services, allocation of resources, and distribution of goods and income.
- National income accounting measures the total value of all final goods and services produced in a nation in a given period of time. Key concepts include GDP, GNP, NDP, NNP, GDP/GNP at market price and factor cost.
- Personal income, disposable income, private income are further breakdowns of national income accounting that measure income available to individuals/households after accounting for various
CHAPTER 2 NATIONAL INCOME AND OUTPUT.pptx2022808696
The document provides an overview of key concepts related to measuring national income, including:
1) It defines national income as the total market value of final goods and services produced in an economy in a period of time, as measured by GDP.
2) It discusses the circular flow of income and how income is generated and spent among households, firms, and other sectors in an economy.
3) It outlines three main approaches to measuring national income - expenditure, income, and output approaches - and provides examples of calculating GDP using each.
This document discusses various concepts and methods for measuring macroeconomic aggregates such as GDP, GNP, and national income. It defines GDP as the total market value of final goods and services produced domestically during a given period, while GNP includes the domestic production plus net income from abroad. The document outlines the output, expenditure, and income methods for calculating these aggregates and discusses related concepts like nominal versus real GNP, price indices, and difficulties in measurement.
The expenditure method is the most widely used approach for estimating GDP. GDP is calculated by summing expenditures on final goods and services, including:
1) Consumer spending (C)
2) Government spending (G)
3) Business investment (I)
4) Net exports (Exports - Imports) (NX)
Using this formula: GDP = C + G + I + NX
Several expenditures are excluded from this calculation, such as purchases of used goods, financial assets, and transfers. The document provides examples of calculating GDP using expenditure data.
Measuring National Output and National IncomeNoel Buensuceso
The document discusses key concepts related to measuring national output and national income. It defines GDP as the total market value of all final goods and services produced within a country in a given period. GDP can be calculated using the expenditure approach, which sums consumer spending, investment, government spending, and net exports, or the income approach, which sums compensation, profits, interest, and rents. The document also discusses related concepts like GNP, NNP, personal income, and disposable personal income.
How to Make a Field Mandatory in Odoo 17Celine George
In Odoo, making a field required can be done through both Python code and XML views. When you set the required attribute to True in Python code, it makes the field required across all views where it's used. Conversely, when you set the required attribute in XML views, it makes the field required only in the context of that particular view.
The simplified electron and muon model, Oscillating Spacetime: The Foundation...RitikBhardwaj56
Discover the Simplified Electron and Muon Model: A New Wave-Based Approach to Understanding Particles delves into a groundbreaking theory that presents electrons and muons as rotating soliton waves within oscillating spacetime. Geared towards students, researchers, and science buffs, this book breaks down complex ideas into simple explanations. It covers topics such as electron waves, temporal dynamics, and the implications of this model on particle physics. With clear illustrations and easy-to-follow explanations, readers will gain a new outlook on the universe's fundamental nature.
How to Manage Your Lost Opportunities in Odoo 17 CRMCeline George
Odoo 17 CRM allows us to track why we lose sales opportunities with "Lost Reasons." This helps analyze our sales process and identify areas for improvement. Here's how to configure lost reasons in Odoo 17 CRM
This presentation was provided by Steph Pollock of The American Psychological Association’s Journals Program, and Damita Snow, of The American Society of Civil Engineers (ASCE), for the initial session of NISO's 2024 Training Series "DEIA in the Scholarly Landscape." Session One: 'Setting Expectations: a DEIA Primer,' was held June 6, 2024.
ISO/IEC 27001, ISO/IEC 42001, and GDPR: Best Practices for Implementation and...PECB
Denis is a dynamic and results-driven Chief Information Officer (CIO) with a distinguished career spanning information systems analysis and technical project management. With a proven track record of spearheading the design and delivery of cutting-edge Information Management solutions, he has consistently elevated business operations, streamlined reporting functions, and maximized process efficiency.
Certified as an ISO/IEC 27001: Information Security Management Systems (ISMS) Lead Implementer, Data Protection Officer, and Cyber Risks Analyst, Denis brings a heightened focus on data security, privacy, and cyber resilience to every endeavor.
His expertise extends across a diverse spectrum of reporting, database, and web development applications, underpinned by an exceptional grasp of data storage and virtualization technologies. His proficiency in application testing, database administration, and data cleansing ensures seamless execution of complex projects.
What sets Denis apart is his comprehensive understanding of Business and Systems Analysis technologies, honed through involvement in all phases of the Software Development Lifecycle (SDLC). From meticulous requirements gathering to precise analysis, innovative design, rigorous development, thorough testing, and successful implementation, he has consistently delivered exceptional results.
Throughout his career, he has taken on multifaceted roles, from leading technical project management teams to owning solutions that drive operational excellence. His conscientious and proactive approach is unwavering, whether he is working independently or collaboratively within a team. His ability to connect with colleagues on a personal level underscores his commitment to fostering a harmonious and productive workplace environment.
Date: May 29, 2024
Tags: Information Security, ISO/IEC 27001, ISO/IEC 42001, Artificial Intelligence, GDPR
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How to Build a Module in Odoo 17 Using the Scaffold MethodCeline George
Odoo provides an option for creating a module by using a single line command. By using this command the user can make a whole structure of a module. It is very easy for a beginner to make a module. There is no need to make each file manually. This slide will show how to create a module using the scaffold method.
Exploiting Artificial Intelligence for Empowering Researchers and Faculty, In...Dr. Vinod Kumar Kanvaria
Exploiting Artificial Intelligence for Empowering Researchers and Faculty,
International FDP on Fundamentals of Research in Social Sciences
at Integral University, Lucknow, 06.06.2024
By Dr. Vinod Kumar Kanvaria
it describes the bony anatomy including the femoral head , acetabulum, labrum . also discusses the capsule , ligaments . muscle that act on the hip joint and the range of motion are outlined. factors affecting hip joint stability and weight transmission through the joint are summarized.
How to Setup Warehouse & Location in Odoo 17 InventoryCeline George
In this slide, we'll explore how to set up warehouses and locations in Odoo 17 Inventory. This will help us manage our stock effectively, track inventory levels, and streamline warehouse operations.
This slide is special for master students (MIBS & MIFB) in UUM. Also useful for readers who are interested in the topic of contemporary Islamic banking.
A review of the growth of the Israel Genealogy Research Association Database Collection for the last 12 months. Our collection is now passed the 3 million mark and still growing. See which archives have contributed the most. See the different types of records we have, and which years have had records added. You can also see what we have for the future.
12. Example. construct the formula for the
following, if GDPmp is given
(a) GDP at FC
(b) NDP at FC
(c) NDP at MP
(d) GNP at FC
13. 1. Gross domestic product (GDPMP) 50,000
Calculate
(a) GDP at FC.
(b) NDP at FC
(c) NDP at MP
Indirect tax 15,000
Subsidies 5,000
Depreciation 5,000
14. 2. Net domestic product (NDPFC) 50,000
Calculate
(a) GNP at MP.
(b) NNP at FC
(c) NNP at MP
Indirect tax 15,000
Subsidies 5,000
Depreciation 5,000
Factor income from abroad 20,000
Factor income to abroad 7,000
15. Calculate NDP at FC
Particulars in crores
GNP at MP 6,000
Subsidies 200
Depreciation 100
Factor income 400
received from aboard
Indirect taxes 300
16. Calculate GNP at FC
Particulars in crores
NDP at MP 25,000
Subsidies 30
Depreciation 5,000
Factor income received from aboard 400
Factor income to the rest of the world 600
Indirect tax 100
17. Calculate Consumption of Fixed Capital
Particulars in crores
NNP at FC 4,000
GDP at MP 5,000
Net Indirect Tax 300
Net Factor income from abroad 200
18. Calculate Net Indirect Tax
Particulars in crores
GNP at MP 7,000
NDP at FC 6,200
Depreciation 600
Net Factor income (-) 400
from abroad
19. Calculate (a) Depreciation; (b) Subsidies;
(c) NDP at FC
Particulars in crores
GNP at FC 95,000
Indirect Tax 14,000
NDP at MP 1,00,422
NNP at MP 1,00,000
GNP at MP 1,07,000
24. under this method income received by all the resident of a
country for their productive services during the period of one
year are added to obtain national income.
25. Income method is also known as
1. DISTRIBUTIVE SHARE METHOD
2. FACTOR PAYMENT METHOD
40. Calculation of National Income By Income Method
1. Compensation of employees
a. Wages & salaries in cash
b. Wages & salaries in kind
c. Employer’s contribution to social security schemes
2. Rent & Royalty
3. Interest
4. Profits
a. Corporate tax
b. Dividends
c. Retained earnings/corporate savings
5. Mixed Income/income of self employed
Operating
Surplus
NET DOMESTIC PRODUCT AT FACTOR COST (NDPfc)
ADD: Net Factor Income From Abroad (NFIA)
Net National Product at Factor Cost (NNPfc)/National Income
41. Question 1: calculate national income (NNPfc)
a) Income of self-employed 40,000
b) Rent 30,000
c) Dividend received by shareholders 35,000
d) Subsidies 5,000
e) Consumption of fixed capital 12,000
f) Factor income from abroad 70,000
g) Wages and salaries 25,000
h) Retained earning of corporate sector 45,000
i) Factor income to abroad 25,000
j) Indirect tax 32,000
k) Royalty 8,000
l) Private final consumption expenditure 60,000
m)Interest 10,000
42. Question 2: calculate : NNPfc & GNPmp
a) Compensation of employees 90,000
b) Corporate tax 30,000
c) Wages and salaries in cash 60,000
d) Net indirect tax 15,000
e) Operating surplus 120,000
f) Mixed income 70,000
g) Factor income to abroad 85,000
h) Factor income from abroad 65,000
i) Rent and royalty 38,000
j) Interest 15,000
k) Depreciation 10,000
43. Question 3: calculate compensation of employees from the following data:
a) National income 185,000
b) Compensation of employees ?
c) Net factor income form abroad 30,000
d) Corporate tax 25,000
e) Net indirect tax 5,000
f) Consumption of fixed capital 10,000
g) Profit 70,000
h) Interest 20,000
i) Rent and royalty 35,000
j) Mixed income of self employed 8,000
45. 1. TRANSFER INCOME SHOULD NOT BE INCLUDED.
• Transfer income refers to an income
which accrues without applying any
factor of production or providing any
productive services.
• These are not included in national
income because these receipts are not
connected with any productive
activity and neither causes any value
addition.
48. 2. Windfall gains
Windfall gains are not
included while
calculating national
income as these are
also not productive
income.
49. • It include incomes such as:
• Lottery Income • Horse Race
50. 3. Income from sale of second hand goods
• Income from sale of second
hand goods are not included
as their original value has
already been counted in the
national income when it was
sold for the first time.
• However, if it is included
again it will lead to
double counting.
51. • But, Income generated in the form of
brokerage on sale of second hand
goods shall be included as broking
services considered productive.
52. 4. Income from sale of shares and securities
• Shares, securities or bonds
doesn’t contribute the flow of
goods & services of an
economy, these are financial
assets and are just paper
claims. Hence income
generated from transfer of
such financial assets are not
included in national income.
• But, in this case also, an brokerage income earned on account of such
transaction shall be considered productive and will be included..
53. 5. Indirect taxes
• Indirect taxes are not included in
national income while calculating
national income at factor cost.
• However taxes are added n order
to calculate national income at
market price.
56. 1. PRIVATE FINAL CONSUMPTION EXPENDITURE
• Expenditures incurred by households on purchase of all durable
and non durable goods and services for the satisfaction of wants.
57. 2. Govt. FINAL CONSUMPTION EXPENDITURE
• Entire amount spent by the government on providing various
services to public is called govt. final consumption expenditure.
58. 3. Gross Domestic Capital Formation
a) Gross domestic fixed capital formation b) Inventory investment
It includes expenditures incurred by the
firm/household/govt. on capital goods such
as machinery, building, equipment etc.
It refers to amount spent by
the firms on maintain the
level of inventory.
59. 4. Net Exports
• Difference between the value of
goods exported and the value of
goods imported is known as Net
Exports.
60. Calculation of National Income By Expenditure Method
1. Private final consumption expenditure(PFCE)
2. Govt. final consumption expenditure(GFCE)
3. Gross domestic capital formation(GDCF)
a. Gross domestic fixed capital formation(GDFCF)
b. Inventory investment/ change in stock
4. Net Exports (X-M)
GROSS DOMESTIC PRODUCT AT MARKET PRICE (GDPmp)
ADD: Net Factor Income From Abroad (NFIA)
Net National Product at Factor Cost (NNPfc)/National Income
Less: depreciation
Less: Net Indirect TAX
61. Question 1: calculate national income (NNPfc)
a) Net domestic capital formation 150
b) Govt. final consumption expenditure 300
c) Net factor income from abroad (-) 20
d) Private final consumption expenditure 600
e) Depreciation 30
f) Net export 50
g) Net indirect tax 90
h) Net current transfers from rest of the world 40
Ans: 990
62. Question 2: calculate national income (NNPfc)
a) Private final consumption expenditure 900
b) Gross domestic capital formation 250
c) Govt. final consumption expenditure 400
d) Net factor income from abroad (-) 40
e) Depreciation 20
f) Net import 30
g) Net indirect tax 100
h) Profit 100
i) Change in stock 50
Ans: 1360
63. Question 3: calculate
(i) gross domestic product at market price
(ii) National income
a) Private final consumption expenditure 3500
b) Gross domestic capital formation 1100
c) Govt. final consumption expenditure 4000
d) Net factor income from abroad 100
e) Consumption of fixed capital 120
f) Net export 500
g) Net indirect tax 300
h) Change in stock 80
i) Subsidies 40
Ans:
(a)GDPmp 9100
(b)NNPfc 8780
64. Question 4: (homework)
calculate
(i) gross domestic product at market price
(ii) National income
a) Private final consumption expenditure 3500
b) Gross domestic capital formation 1100
c) Govt. final consumption expenditure 4000
d) Net factor income from abroad 100
e) Consumption of fixed capital 120
f) Net export 500
g) Net indirect tax 300
h) Change in stock 80
i) Subsidies 40
Ans:
(a)GDPmp 9100
(b)NNPfc 8780
69. 1. Transfer payments
• Transfer payments are
not included as such
payments are not related
with any productive
activity and there is no
value addition in the flow
of goods & services.
70. 2. Purchase of second hand goods
• As the second hand goods
does but effect the current
flow of goods & services,
thus; any expenditure for
purchase of second hand
goods shall not be
included in the
computation of national
71. • But any commission or
brokerage paid on such
purchases must be
included in the national
income.
72. 3. Purchase of Financial Assets
• Financial assets are mere
paper claims and
involves change in
titleship only. Therefor,
amount spent on
purchase of financial
assets shall not be
included in the national
73. • However, any
brokerage or
commission paid on
purchase of such
financial assets shall
be included in the
national income.
74. 4. Expenditure on intermediate goods
• Value of intermediate
goods are not included
in the national income as
their value has already
been included in the
value of final goods.
• If these are included
again it will lead to
double counting
75. 5. Production for self-consumption
• Amount spent on
production for self
consumption shall
be included in the
national income,
cause such a
production form
part of the total
output.
78. Value added refers to the difference between the value of
inputs and the value output
VALUE ADDED
VALUE OF INPUTS VALUE OF OUTPUT = VALUE ADDED
Rs. 230 Rs. 250 Rs. 20
79. • Sum total of Value Added
by all the firms in an
economy is called
GROSS VALUE ADDED
80. • Calculation of value added
1. Gross Value Added at market price (GVAmp)
= value of output - Intermediate goods
2. Gross Value Added at factor cost (GVAfc)
= value of output - Intermediate goods - NIT
3. Net Value Added at market price (NVAmp)
= value of output - Intermediate goods - Depreciation
4. Net Value Added at factor cost (NVAfc)
= value of output - Intermediate goods - Depreciation - NIT
81. value of output
SALES + unsold/ change in stock + Goods used for self-consumption
(Domestic Sales +
Exports )
(Closing Stock –
Opening Stock)
+
Goods used for
self consumption
+
82. value of intermediate goods
Domestic
purchases
Power
charges
Imports
Fuel
charges
+
Electricity
charges
+
+
+
94. On the basis of circular flow of income you will
be able to undertand the basic functioning of
an economy i.e. how an economy operates.
and through this topic you will be able to
understang the role of different
participants/sectors in an economy.
95. Assumptions Of Circular Flow
1. There are only 2 sectors in the economy
2. It is a closed economy with the absence of govt. & foreign trade sector
3. Firms sell their entire output to households
4. Households spend their entire income on goods & services which they purchase from the firms
Households
Government Foreign Trade Sector
Firms
97. Circular Flow of Income
It refers to cycle of :
Generation of income in the production process by the firms
Then its distribution among the factors of Production for their
factor services
And finally its disposition by the household on the
consumption of goods & services.
1. Production Phase
2. Distribution
Phase
3. Disposition
phase
Phases of circular flow:
98. 1. Production Phase 2. Distribution Phase 3. Disposition phase
Phases of circular flow:
Phase of circular flow wherein
firm produces goods and services
using factor services provided by
the households(factors), it is
known as production phase.
When firm makes payment to
factors for their services, this is
known as distribution phase.
When household spends their
income on consumption of goods
& services, this is known
disposition phase.
99. TYPES OF CIRCULAR FLOW
REAL FLOW MONEY FLOW
Flow of factor services from households
to firms and corresponding flow of goods &
services from firms to households is called
real flow.
Flow of factor payments from firms to
household and corresponding flow of
consumption expenditure from households
to firms is called Money flow.
HOUSEHOLD Firms
Factor Services
Goods & Services
HOUSEHOLD Firms
Factor Payments
Cons. expenditure
it is also known as Physical Flow it is also known as Nominal Flow
100. Variables
Anything that can be measured in quantitative terms are known as variables
STOCK VARIABLES FLOW VARIABLES
Anything that is measured at a particular
point of time and has no specified time
dimension is a stock variable
Anything that is measured over a period
of time and has a specified time dimension is
a Flow variable
It is a static concept It is a dynamic concept
Example:
• Stock of inventory in Godown as on 15th Jan.
• Money, wealth.
• population as per census 2011
• etc.
Example:
• GDP of country
• Aggregate demand & Aggregate supply
• Sales, Profits
• etc.
102. Types of goods
Intermediate
Goods :
Intermediate goods refers to those goods which are to be used as an
input for the production of some other goods i.e. for the production of
finished goods
Tyres
furniture
Shirts
Bread
woods
Rubber
fabric
Wheat
103. Intermediate Goods goods which are purchased with the purpose to resell it to the consumers so as
to earn money are also treated as intermediate goods.
Automobile dealer
Electronic Dealer
General Store Inventories
CAR
Electrical Appliances
104. It refers to those goods which are purchased for personal and self consumption
purpose. These are not meant to be sold in the market rather used in households.
Final Goods
Air Conditioner Refrigerator Fruit & Vegetables Clothes
Consumer Goods
105. these goods also include goods which are used in business for investment
purpose and facilitate in proper functioning of the operation.
Final Goods
Computer Machines Printer Furniture
Capital goods
106. Final Goods
Consumer Goods Capital Goods
Goods which are used
in households for self
consumption or self use
are called consumer
goods
Goods which are used in
business for investment
purpose or for the use in
business are known as
capital goods
107. •Goods which are either used as an input
for the production of finished good or
which are to be sold in the market so as
to earn profit.
Final Goods
Intermediate Goods
Basis
•Goods which are either used for self
consumption or as an investment in the
business.
1. Meaning
2. Inclusion
•These are neither included in domestic
product nor on the valuation of
national income.
•These are included in domestic product
as well as in the national income.
3. Production Boundary •These are within the production boundary • These are within the production boundary
4. Life •These are generally used within a period of one
year
•These goods generally have a life span of
more than a year.
5. Example •Car purchased by Automobile dealer is an
intermediate good.
•Car purchased by consumer for personal
use.
108. 1. Value of wood purchased for
manufacturing table
Classify the following items as intermediate or final goods, also state reason.
Question:
Classification of good Reason
Intermediate good Because it will be used as an input for the production
of table
2. Furniture purchased by school Final Good (capital good) Because furniture are investments by the school
3. Computer installed in office Final Good (capital good) Because it will not be sold rather used in office for
work.
4. Chalk & duster purchased by
school
Intermediate good Because these are generally consumed within a period
of one year.
5. Mobile set purchased by mobile
dealer
Intermediate good Because these are purchased for resale in the market.
6. Fabric purchased by tailor Intermediate good Because tailor will used it for stitching clothes and
sell it to customer.
7. Unused coal of factory at the end
of the year
Final Good (Capital good) Because it’s life is more than a year.
8. Milk purchase by household Final Good (consumer goods) Because it will be used by household for consumption
purpose.
Items
110. Total value of all the goods & services
produced during the period of one
year within the domestic boundary of
the country is called GDP
111. Calculation of GDP
GDP of an economy is calculated by
multiplying the quantity of output with the
prices of the output.
Gross Domestic Product(GDP)
= QUANTITY x PRICE
113. Nominal GDP:
When GDP of an economy for a given
year is calculated by multiplying the
current year’s output with the current
year’s price it is called Nominal GDP
Nominal GDP is also known as GDP at
Current Price
114. GDP for the Year 2020-21:
Quantity in the
current year
(Q1) 2020-21
Prices in the
current year
(P1) 2020-21
Output GDP for the year
2020-21
(Q1) x (p1)
1. Refrigerators
2. Television
3. Automobiles
4. Stationary
5. Mobile phones
2,000 units
1,000 units
5,00 units
1000 units
4,000 units
Rs. 100
Rs. 80
Rs. 500
Rs. 20
Rs. 50
Rs. 200,000
Rs. 80,000
Rs. 250,000
Rs. 20,00
Rs. 200,000
Total = 750,000
Nominal GDP = Current year’s Output (Q1) X Current year’s Price (P1)
115. Real GDP:
When GDP of an economy for a given
year is calculated by multiplying the
current year’s output with the Base year’s
price it is called
Real GDP
.
Real GDP is also known as GDP at Constant
Price
116. GDP for the year 2020-21:
Quantity in the
current year
(Q1) 2020-21
Prices in the base
year
(P0) 2011-12
Output GDP for the year
2020-21
1. Refrigerators
2. Television
3. Automobiles
4. Stationary
5. Mobile phones
2,000 units
1,000 units
5,00 units
1000 units
4,000 units
Rs. 70
Rs. 50
Rs. 300
Rs. 15
Rs. 40
Rs. 140,000
Rs. 50,000
Rs. 150,000
Rs. 15,000
Rs. 160,000
Total = 5,15000
Real GDP = Current year’s Output (Q1) X Base year’s Price (P0)
117. Which is the better indicator of economic Growth ?
Real GDP is considered a better indicator
for growth of an economy because it is
not effected by the change in price
output.
118. Which is the better indicator of economic Growth ?
Example:
GDP for the year 2020-21
1. Nominal GDP
= output (2020-21) X Current year’s price (2020-21)
= 20,000 units X Rs. 100 per unit
= 20 Lakhs
2. Real GDP
= output (2020-21) X Base year’s price (2011-12)
= 20,000 units X Rs. 65 per unit
= 13 Lakhs
GDP for the year 2021-22
1. Nominal GDP
= output (2021-22)
= 20,000 units X Rs. 120 per unit
= 24Lakhs
X current year’s price (2021-22)
2. Real GDP
= output (2020-21) X Base year’s price (2011-12)
= 20,000 units X Rs. 65 per unit
= 13 Lakhs
119. Who are
Residents
GDP of an economy is calculated by
multiplying the quantity of output with the
prices of the output.
120. GDP Deflator
GDP deflator is the ratio of nominal GDP
to Real GDP multiplied by 100.
It gives us an idea about the change in
the price of goods that have been
included in the calculation of GDP
.
121. GDP as an index of economic welfare
Although GDP is considerd a good
indicator of economic growth but it
cannot be considerd an adequate
parameter for economic welfare.
following are the reasons for the same:
122. 1. Distribution of GDP
2. Non Monetary Exchanges
3. Inflation
4. Externalities
123. Who Are Residents?
A resident whether a person or an
institution is one who’s center of economic
interest lies in the economic territory of
the country in which he lives or is located.
124. Center of Economic interest
center of economic interest means:
(a) Resident lives or is located within the
economic territory.
(b) the resident carries out basic
economic activities from that location.
125. Following are not treated as
residents
(a)foriegn medical patients.
(b) foriegn students
(c) official diplomats and member of the
armed forces of foriegn country.
(d) international org. such as WHO, IMF, UN etc.
(e) people who crosses border and goes to work in
another coutry.
127. FACTOR INCOME
Factor income refers to income received by
factors for rendering their factor services.
Factor income include
incomes such as:
•Rent
•Wages
•Interest
•Profits etc
Factor incomes are included in the valuation of national
income.
128. TRANSFER INCOME
Incomes which are received without rendering
any factor services are known as transfer
income . Factor income include
incomes such as:
• Scholarships
• Gifts
• Donation
• Charity etc
Transfer incomes are not included in the valuation of
national income as it is connected with any productive
activities and doesn’t leads to any addition in the value of
130. •Income received on account of
productive activity or services are called
factor income.
Transfer Income
Factor Income
Basis
•Income received without any
productive service are called transfer
income.
1. Meaning
2. Inclusion
•These are included in domestic product as
well as in the valuation of national income.
•These are neither included in domestic
product nor in the national income.
3. Concept •It is an earning concept • it is a receipt concept
4. Example •Rent, wages, interest, salary, pension, provident
fund, profits etc.
•Gift, donation charity, scholarship, old
age pension etc.
131. DOUBLE COUNTING
• It refers to counting the value of a commodity more
than once while calculating the value of production in
the economy.
• This leads to over estimation of the value of goods and services
produced, which eventually leads to inflated value of national income.
132. Production Units
•FIRM
A
•FIRM
B
•FIRM
C
•FIRM
D
Raw Cotton: Rs 200 Cotton Yarn Rs 350 Fabric Rs 600 Shirt Rs 1,000
National Income = Value of output by each firm
Includes Value of . Raw cotton Rs 200 Includes Value of . Cotton Yarn Rs 350 Includes Value of . Cotton fabric Rs 600
1. National Income = Value added by each firm
2. National Income = value of final good
= 200 + 350 + 600 + 1000
= 2150
AVOIDING DOUBLE COUNTING
= 200 + 150 + 250 + 400
= 1,000
= 1,000
133. Production Units
•Farmer •Flour
Mill
•Bake
r
•Shopkeep
er
Wheat: Rs 20 Flour: Rs 35 Bread: Rs 55
National Income = Value of output by each firm
= 20 + 35 + 75 + 100
= 230
Includes Value of . Wheat 20 Includes Value of . Flour Rs 35
Includes Value of . Bread Rs. 55
1. National Income = Value added by each firm
= 20 + 15 + 20 + 05
= 60
2. National Income = value of final good
= 60
•Custome
r
Final Price: Rs 60
AVOIDING DOUBLE COUNTING