Compounds that contain both a hydroxyl group (OH)and a carboxyl group (COOH)can undergo an intramolecular esterification reaction. The lactone product shown is the result of the intramolecular esterification reaction of the indicated starting material. 
Definitions:
Gross National Product
The total value of all goods and services produced by a country's residents and businesses, regardless of where the production takes place, over a defined period.
Net Domestic Product
The total value of all goods and services produced within a country in a specific time period, minus depreciation.
National Income
The total value of all goods and services produced by a country over a specific period, often considered an indicator of economic health.
Gross Domestic Product
A measure of the economic activity produced within a country over a period of time, including the total value of all goods and services produced.
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