This video lecture talks about the various important terminologies in macroeconomics. Some of the terms explained precisely in the lecture are national income, per capita income, etc. The various interrelationships between such terms are also lucidly explained. The lecture is aided with diagrammatic illustrations in order for the point to be well-understood.
National Income Notes
These are important concepts in the economy section of the UPSC Syllabus. Terms such as gross domestic product (GDP), net domestic product (NNP), gross national product (GNP), net national product (NNP), national income, per capita income, purchasing power parity (PPP), etc. are of much importance for both the UPSC civil services prelims as well as the mains exams. So, these terms should be studied thoroughly. Many questions have been asked in the past from these areas. Candidates should go through these terms and familiarise themselves with the concepts and also understand the implications of these terms. For example, what all factors contribute to the GDP, etc. should be understood.