ECON202 - Chapter 5

ECON202 - Chapter 5 - (2 Final goods(a A good sold to its...

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ECON202 Book Notes Chapter 5 1) Production, Income and Employment a) Production and gross domestic product i) GDP (1) The total value of all final goods and services produced for the marketplace during a given year within the nation’s borders
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Unformatted text preview: (2) Final goods (a) A good sold to its final user (3) Intermediate goods (a) Goods used up producing final goods ii) The expenditure Approach to GDP (1)...
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