Skip to content

Course home

2.2.1 The circular flow of income
x

Three Views of National Income

Three Views of National Income

Gross domestic product (GDP), or national output, is the value of the final goods and services produced within an economy over a given period. Counting only final output, or the value added at each stage of production, avoids double-counting intermediate goods. National income is the factor income earned from production, such as wages, rent, interest and profit.

2.2.1 The circular flow of income Lesson

  1. A Level
  2. /Economics
  3. /2.2.1 The circular flow of income

Step-by-step lessons covering AQA A Level Economics 2.2.1 The circular flow of income for A Level Economics. Each lesson works through exam-style questions in Paper 1, Paper 2 and Paper 3 format. Start with the core supply-and-demand models before moving on to the more evaluation-heavy macroeconomic policy topics.