Social Sciences and History / Unit 14 SSH 1307 short lesson, about 20 seconds
Two Ways to Count: Spending and Production
Captions available
The idea
From the purchase side, demand divides into consumption, investment, government, exports and imports. From the production side, output divides into durable goods, nondurable goods, services, structures and inventories. National income sums wages, rent, interest and profit, the BEA's components.
In practice
A car, food, a haircut, a factory, unsold stock.
Where people slip
The glossary lists profit twice and omits interest, an error recorded.
Your place on the trail
Every lesson rests on earlier ones and opens later ones. Tap any to jump.
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