The chapter discusses how to measure economic activities. It's important to measure economic activity accurately for economists, policymakers, and businesses. Gross national product (GNP) is used to measure market production, but it has limitations and doesn't show people's well-being. Real GNP per person gives a better idea of economic activity on a human scale. Income and value-added are the same, but income and value-added taxes are different. The value-added tax is a topic of debate in economics.