Traded goods pass through the economy in a cycle which starts with production and finishes with consumption, generating income on their way round. The national income, or gross domestic product, can be measured in three ways, each of which should give the same answer, within the limits of measurement error, since they are different ways of measuring the same flow. GDP is measured at factor cost.

Inspec keywords: telecommunication; economics

Other keywords: gross domestic product; GDP; measurement error; world telecommunications economy; world telecommunications economics

Subjects: Telecommunication