Learning objectives what determines the economy's total output/income how the prices of the factors of production are determined how total income is distributed what determines the demand for goods and services how equilibrium in the goods market is achieved CHAPTER 3 National Income slide 1 CHAPTER 3 National Income slide 1 Learning objectives ▪ what determines the economy’s total output/income ▪ how the prices of the factors of production are determined ▪ how total income is distributed ▪ what determines the demand for goods and services ▪ how equilibrium in the goods market is achieved