Revision Notes For Class 12 Economics Macroeconomics Chapter 2 National Income Accounting

National Income Accounting is one of the most important chapters in class 12 Economics. This chapter covers various concepts – final goods, intermediate goods, consumption goods, capital goods, investment – fixed investment & inventory investment, gross investment, net investment, stock, flow, depreciation, money flow, real flow, condition for equilibrium in four sector economy, normal residents of a nation, domestic territory of a nation, factor incomes, transfer payment, value added, planned change in inventories, unplanned change, final expenditure, national income, private income, personal income, national GDP, real GDP.

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