Nama : Mohd azmezanshah bin sezwan

ID Card : 2019846216

Discuss four(4) components of measuring national income using expenditure

approach?

1. Net National Product (NNP) at MP is the market value of the net production of the
final goods and services generated by the economy over the year and of the net
revenue from abroad.

2. Gross National Product (GNP) is the market value of final products and services
generated in a year by citizens of the country, both domestically and abroad. GNP is
the value of goods and services created by people of the world independent of their
situation.

3. National Income (NI): is also known as National Income at cost factor, which
means the overall income received by resources for the contribution of land , labour ,
capital and organisational power. So, the amount of income earned by the forces of
production in the form of rent , wages, interest and benefit is considered national
income.

4. GDP is the final amount of goods and services manufactured within the territorial
limits of a country for a given period of time , usually one year. GDP growth rate is a
significant measure of a country's economic success.