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    Chapter 4 Notes (B)

    Uploaded by

    amieetonggm

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Chapter 4 Notes (B)

    Uploaded by

    amieetonggm
    5 views6 pages

    Original Title

    Chapter 4 Notes(b)

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    5 views6 pages

    Chapter 4 Notes (B)

    Uploaded by

    amieetonggm

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 6

    GD

    )
    ∞
    .
    Gross domestic product CGDp 2 …
    ← …
    …
    ” …

    the total ralue of production ot all resident producing unitsofaneconomy


    during a specified period
    ∞
    -

    Produving unit

    .
    individuali

    telsne has remained in theeconomy


    for at leastl2 months r

    i 的teuds to do so , regardless o f his lher nationality


    organisation
    e

    ordinarily Operates in tne


    eoonomy
    一
    Items not inluded in GDP
    e
    intermediate goods
    of intermediate vil | included Finelgoods
    the values
    goods be in
    -

    and Services

    intermediate goods
    =

    inputs bought from other tirms Which are usedup during the course

    of production

    FinlSoods :

    that will not transacted


    goods be in the market anymore

    Imports
    a

    produced by foreigu countries

    Items not produced during specified period


    e
    the

    eg
    - Second hand goods past inventories
    - -

    Items not
    involving
    @

    Production
    (
    old age allowance
    gain from buying shares properties
    e
    g
    -

    - .

    money
    to
    Purchases Shares
    。
    GDP
    Per capita GDP =
    Population
    -

    G better measure of standard of living than GDp

    becanse it cam eliminate +he eftects of Poprlation size

    on the Comparisom of GDP statistics in difterent yearsl places

    Uses ot GDP statistics


    -

    To assess the Cconomic pertormance of an


    economy lindustry
    -

    To retlect the economic welfare of an


    economy
    Ce of )
    g material well
    being or
    general standard
    living ot people
    -

    - .

    To Facilitate intermatianal comparison Betweem different

    Countrils
    ①

    回 0 σ

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