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NATIONAL INCOME AND GROSS DOMESTIC PRODUCT: National income (NI) is the total income earned by the citizens of the national economy resulting from their ownership of resources used in the production of final goods and services during a given period of time, usually one year. Gross domestic product (GDP) is the total market value of all final goods and services produced within the political boundaries of an economy during a given period of time, usually a year. Although national income is generated by the production of gross domestic product, the value of production does not entirely result in earned income. In other words, national income can be derived from gross domestic product after a few adjustments.

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SECOND ESTATE

Another term for the business sector. This is one of four divisions of society based on economic function. The other three are government as the first estate, consumers as the third estate, and journalists as the fourth estate.

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BLUE PLACIDOLA
[What's This?]

Today, you are likely to spend a great deal of time at an auction wanting to buy either several orange mixing bowls or clothing for your pet dog. Be on the lookout for rusty deck screws.
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This isn't me! What am I?

John Maynard Keynes was born the same year Karl Marx died.
"Concentrate all your thoughts upon the work at hand. The sun's rays do not burn until brought to a focus."

-- Alexander Graham Bell, inventor

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Personal Income
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