National Income Accounting

Durable Good
A good that provides long-term utility, typically lasting three years or more.
Household Production
Understanding the concept of household production, its significance, and how it is accounted for in different economic systems.
Income Method
Measurement approach of domestic product by calculating factor incomes received.
National Income - Definition and Meaning
The total income of residents of a country, measured at factor cost after deducting capital consumption and excluding transfer payments.
Private Sector Balance
Private sector balance is the excess of savings over investment spending by the private sector, forming a crucial part of national income accounting identities.