Wk 4 Problems + New Team Member

Group 5. Tom Martin, Rob Ryan and Hugh O’Brien.

Recorder John O’Sullivan.

Wages – compensation for labor output. Income for individual and expenditure for business.

Consumption – the amount of goods and services used by the economy. Expenditure, income for the person providing goods and services.

Rent – the cost of the temporary use of an asset. Can be income if you own the asset and expenditure otherwise. A measure of extraction - Marx

Government Expenditure – the cost the government incurs to produce public goods and services. Expenditure.

Manufacturing output – tangible produce that is caused by combining the factors of production. Output.

Interest payments – cost that exceeds the principal amount of the loan, the cost of borrowing. Expenditure if the borrower, income if the recipient. Can be seen as output. A flow of funds.

Loans – savings leant to individuals and institutions as investment capital. Output for the lender.

Bank Deposit – funds deposited as savings by individuals and institutions. Income for banks.

Bonds – debt instrument issued by institutions and governments to raise investment capital.

Equities – shares of ownership issued by an institution.

Money Balance – how much money people and institutions hold at a given point in time.







Hugh is now in group 5 instead of being in group 6 alone.