Sunday, February 1, 2015

GDP (Not included):

1. Non market activities for example volunteering, family work, illegal drugs.
2. Intermediate goods: goods and services that are purchased for resale or further processing and manufacturing.
3. Used or second hand goods.
4. Financial transactions
        -stocks, bonds, realestate
5. Give or transfer payments.
        -Public: recipients contribute nothing to the current production For example welfare payment and Social
 Security.
        - Private: produce no output, transfer funds from private individual to another. Example scholarships.


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