1.It is also referred to as national income.

2. It includes production within and outside of the country under consideration. 3. It refers to the difference between the value of goods produced and the cost of materials and supplies used in producing them..

4. It is also referred to as expenditure approach.

5. It refers to the spending by households on durable goods, non durable goods and services

6. It refers to the reduction in value of an asset through wear and tear

7. It is the amount available to households for the purchase of goods and services.

8. It includes production goods and services located in the domestic economy regardless ow who owns these factors 9. It refers to the current price of goods and services produced in the economy.

10. It refers to all expenditures for newly produced capital goods.