S5 Economics: National Income (Continued)

These Trinity College Nabbingo notes continue the Senior 5 Economics topic of national income. They define GDP, GNP, net domestic and national product, personal income, disposable income, and nominal and real income. Formulas and sample questions provide practice in adjusting income measures for depreciation, overseas earnings and price changes. The notes also discuss factors affecting national income, explanations for low income levels in Uganda, and measures proposed to increase output. A further section outlines why countries compile national income statistics, including planning, economic comparisons and identifying sector performance.