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ANDEAN COMMUNITY: The Andean Community (CAN) is a subregional organization endowed with an international legal status, which is made up of Bolivia, Colombia, Ecuador, Peru and Venezuela. The main objectives of the Andean Community are to promote the balanced and harmonious development of the member countries under equitable conditions, to boost their growth through integration and economic and social cooperation and to enhance participation in the regional integration process with a view to the progressive formation of a Latin American common market. The Andean Community started operating on August 1, 1997 with a General Secretariat, whose headquarters are in Lima (Peru), as its executive body.
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                           NET NATIONAL PRODUCT: The total market value of all final goods and services produced by citizens of an economy during a given period of time, usually a year, after adjusting for the depreciation of capital. Net national product (NNP) has the same relation to net domestic product (NDP) as gross national product (GNP) has to gross domestic product (GDP). Net national product also has the same relation to gross national product that net domestic product has to gross domestic product. Like NDP, NNP is a measure of the net production in the economy. The key difference between NNP and NDP is identical to that between GNP and GDP. Net national product measures all output produced by citizens of a nation, regardless of where that production takes place, and net domestic product measures all output produced within the political boundaries of a nation, regardless of the citizenry of those doing the producing. The difference between NNP and NDP is net foreign factor income.In the same way that NDP is derived from GDP by subtracting capital depreciation, specifically the capital consumption adjustment (CCA), NNP is derived from GNP by subtracting the capital consumption adjustment. When GNP gave way to GDP as the primary measure of gross production in the early 1990s, so too did NNP give way to NDP as the primary measure of net production in the economy. NNP can still be derived from the numbers provided by the Bureau of Economic Analysis, but it is seldom if ever reported with other standard measures of production and income.
Recommended Citation:NET NATIONAL PRODUCT, AmosWEB Encyclonomic WEB*pedia, http://www.AmosWEB.com, AmosWEB LLC, 2000-2025. [Accessed: July 14, 2025].
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Today, you are likely to spend a great deal of time going from convenience store to convenience store wanting to buy either a remote controlled sports car with an air spoiler or semi-gloss photo paper that works with your neighbor's printer. Be on the lookout for malfunctioning pocket calculators.
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