CFI Definitions

  1. National Capital Stock
    The stock of capital goods, such as buildings and machinery, in the economy that has accumulated over time and is measured at a point in time
  2. Wealth
    The stock of assets which have value at a point in time as distinct from income which is a flow generated over a period of time
  3. National Wealth
    The stock of all goods that exist at a point in time that have value in the economy
  4. National Income
    The flow of new output produced by the economy in a particular time period, ie, one year (same as National Output and National Product)
  5. National Output
    The flow of new output produced by the economy in a particular time period, ie, one year (same as National Income and National Product)
  6. National Product
    The flow of new output produced by the economy in a particular time period, ie, one year (same as National Output and National Income)
  7. Consumption
    Total planned spending by households on consumer goods and services produced within an economy
  8. Closed Economy
    An economy with no international trade
  9. Saving
    Income which is not spent (deferred consumption)
  10. Withdrawal
    A leakage of spending power out of the circular flow of income into the savings, taxation or imports
  11. Investment
    Total planned spending by firms on capital goods produced within the economy
  12. Injection
    Spending entering the circular flow of income as a result of investment, government spending and exports
  13. Open Economy
    An economy open to international trade
Author
Anonymous
ID
318937
Card Set
CFI Definitions
Description
CFI Definitions
Updated