Net material product

Okay kiddo, let's talk about net material product. This is a big grown-up term that means all the goods and services that are produced in a country minus all the things that are used up to make those goods and services.

Let's say your mommy and daddy make cookies to sell at their bakery. They need to buy ingredients like flour, sugar, and eggs to make the cookies. When they sell the cookies, they make money, but they also need to subtract the cost of the ingredients they used to make the cookies. That's kind of like net material product.

A country's net material product is all the goods and services it produces, like cars, clothes, and movies, minus all the things that were used up to make those things, like raw materials and energy. It tells us how much stuff a country is making without taking into account the resources it used up to make that stuff.

So, in a nutshell, net material product is a fancy term that helps grown-ups figure out how much stuff a country is making after they take out all the stuff we used to make that stuff.