NATIONAL INCOME AND RELATED AGGREGATES
NATIONAL INCOME AND RELATED AGGREGATES Macro Economics : - Macroeconomics is the study of aggregate economic variables of an economy. Consumption goods :- Are those which are bought by consumers as final or ultimate goods to satisfy their wants. Eg: Durable goods car, television, radio etc. Non-durable goods and services like fruit, oil, milk, vegetable etc. Semi durable goods such as crockery etc. Capital goods – capital goods are those final goods, which are used and help in the process of production of other goods and services. E.g.: plant, machinery etc. Final goods : Are those goods, which are used either for final consumption or for investment. It includes final consumer goods and final production goods. They are not meant for resale. So, no value is added to these goods. Their value is included in the national income. Intermediate goods intermediate goods are those goods, which are used either for resale or for further production. Example for intermediate go...