Cornell Notes Topic / Objective: Name: Jack Andrew Joa Gross Domestic Product Notes Class: Economics 1100 ? 01: Introduction To The American Economy Period: 1st Period Date: Friday February 10th, 2017 Essential Question: Gross Domestic Product Questions: Notes: The Circular Flow And The national income and product accounts, often referred as the national accounts. Gross Domestic Product: A Household: Consists of either an individual or a group of people who share their income. A Firm: Organization that produces goods and services for sale, it also employs members of households. Product Markets: Where goods and services are bought and sold. Factor Markets: Where resources, especially capital and labor, are bought and sold.