Gross Domestic Product (GDP)  is the market value of all officially recognized final goods and services produced within a country in a given period. 

Slides:

Advertisements

Similar presentations

3.03Explain economic measurements and the business (economic) cycle.

Advertisements

1 HANDOUT alltogethernow.nupge.ca. 2 A national campaign to: 1. Defend public employees 2. Promote public services 3. Fight for tax fairness.

ECO 358 International Economics Professor Malamud BEH – 3294 Fax: 895 – Website:

The developed world High income Upper-middle income Lower-middle income Low income.

CHAPTER 2.4 Gross Domestic Product. Most economists view the country like one big business They measure the success of this business through gross domestic.

UK and Global Economic Insights Dr Andrew Sentance Senior Economic Adviser, PwC Hospitality and Tourism Summit 2015 London, 30 th June 2015.

Building a Narrative The ITUC Global Poll 2013.

Andrew Sentence CBE Senior Economic Advisor, PwC ECONOMIC INSIGHT.

Figure 14.1 Economic Growth in the ADE/ASR model.

Measuring the Economy: Gross Domestic Product

 Business Cycle National Debt Unit 7 Decision, Decisions.

Warm-up 9/10 How does the economy impact your life? Answer in your binder!

Chapter 24 Measuring Domestic Output and National Income

Macroeconomics - ECO 2013 Fall 2005 – 1 Term August 24 – December 16, 2005.

The Future of the Global Economy Augusto López-Claros, Ph.D. International Environment Forum Brighton, United Kingdom December 18, 2010.

Ms. Park.  Linda, Tommy  What do you think is the difference between GDP and GDP per capita?

Developed vs. Developing Countries: What you need to know for the quiz.

7 - 1 Copyright McGraw-Hill/Irwin, 2005 Assessing the Economy’s Performance Gross Domestic Product Expenditures Approach Income Approach Other National.

Global/International Marketing MR1100 Chapter 7. What is International Marketing? International Marketing is the Marketing across international boundaries.

ITUC/PERC International Trade Union Women’s School Building Workers’ Power Findings from the ITUC Global Poll 2013.

Part Two The Global Environment and Social and Ethical Responsibilities 5 Global Markets and International Marketing.

© 2013 Cengage Learning. All rights reserved. CHAPTER 1 GLOBAL2  PENG 1 AP Images/M. Spencer Green.

CHAPTER 5 Measuring the Economy’s Output 1 Slides prepared by Bruno Fullone, George Brown College © 2010 McGraw-Hill Ryerson Limited PART 2: GDP, GROWTH.

Pay and Benefits Outside The United States Chapter #16.

Causes and costs of globalisation

GNP and per capita GNP Top of the world!?. CountryGNP World rank Total GNP United States billion Japan billion Germany billion China42.

What is Gross Domestic Product? Economics 11 Stewart Where you see the pencil, copy the note!

GDP. 1.What do you think is the richest country in the world today? 2.How do you think economists should measure a country’s wealth? We will take some.

Gross Domestic Product. What is Gross Domestic Product? The total market value of all final goods and services produced during a given period of time.

Chapter 2 The Economy: Myth and Reality E pluribus unum (Out of many, one) MOTTO ON U.S. CURRENCY.

Global/International Marketing MR1100 Chapter 7

Why Are Some Nations Wealthy?

Copyright ©2001, South-Western College Publishing Contemporary Economics: An Applications Approach By Robert J. Carbaugh 1st Edition Chapter 1: Scarcity.

ECONOMIC SYSTEM COMPONENTS Private Ownership l Control of productive resources land labor capital that are used to produce goods and services.

Economic growth, debt and inequality. GDP per capita (PPP) (US$) Source:

Ch. 12 Section 1 Gross Domestic Product. Guiding Questions  Why does it matter how the economy is doing to the individual?  How do we determine if the.

Chapter 3 Economic Activity in a Changing World

The United States The Economy. What is GDP ? Gross Domestic Product (GDP): The total market (or dollar) value of all final goods and services produced.

Economics is the science that deals with the production, distribution, and consumption of goods and services, or the material welfare of humankind. There.

The World’s Top 10 Economies (Percent of World GDP) Sources: World Bank/Angus Maddison, “The World Economy: Historical Statistics” (OECD)/ PricewaterhouseCoopers/Milken.

Economic Growth Growth in National Income. Economic growth – growth in national income Economic growth means an increase in national income – the economy.

G8 Group of Eight. G8 G8 G Originally G7 - France, Germany, Italy, Japan, Britain, Canada and the U.S Originally G7 - France, Germany,

European Economies Comparing the Economies of the United Kingdom, Germany and Russia.

ECONOMIC INDICATORS GROSS DOMESTIC PRODUCT (GDP) & GROSS NATIONAL PRODUCT (GNP) MEASURING ECONOMIC GROWTH.

Global Economic Development Ms. Thompson. Economic Expansion Post WWII The United States helped countries re-build and rebuild their economies after WWII.

TOPIC NATIONAL INCOME. 2 : 2 CONTENTS 1.INTRODUCTION. 2.DEFINATION. 3.CONCEPT OF NATIONAL INCOME. 4.METHOD OF MEASURING NATIONAL INCOME. 5.USE OF VALUE.

Economics. What is Economics? Economics is the study of the production, distribution, and use of goods and services. There are 3 basic questions that.

National Income The value of the output of goods and services produced in an economy over a period of time Increases in National Income mean that the economy.

What is Economics? Economics- production, distribution, and use of goods and services – Simple Definition: The study of how people meet their needs People.

Economics Review.

Taiwan and the Global Economy – Where We Stand

Gross Domestic Product

Submitted by Presentation on Gross Domestic Product Submitted by

Continents and Oceans.

National Income The value of the output of goods and services produced in an economy over a period of time Increases in National Income mean that the economy.

9/8 Update your agenda!.

A GOOD LIFE QUIZ You have the time it takes for the music to finish to work out the answer to the multi-choice question Which of the following policies.

The Most Visited Countries

3.5.3 Economic issues affecting international trade

GDP – a measure of National Income

GDP (Nominal, in trillions) 2017 World Bank

Cost/Benefit Analysis: Europe vs. American Labor Laws

GNP and per capita GNP Top of the world!?.

1 Point! 2 Points! 3 Points! 4 Points! 5 Points!!

Consensus Forecast: Internet Advertising Expenditure,

GNP and per capita GNP Top of the world!?.

2006 Rank Adjusted for Purchasing Power

GDP: Measuring the National Economy

Consensus Forecast: TV Advertising Expenditure,

Presentation transcript:

Gross Domestic Product (GDP)  is the market value of all officially recognized final goods and services produced within a country in a given period.  the main tool for measuring the country's economy.

Gross Domestic Product - High World69,899,225 1United States15,075,675 2China7,298,147 3Japan5,866,540 4Germany3,607,364 5France2,778,085 6Brazil2,492,907 7United Kingdom2,431,310 8Italy2,198,732 9Russia1,850,401 10India1,826,811

Gross Domestic Product - Low 174Grenada Vanuatu Saint Kitts and Nevis Saint Vincent and the Grenadines Samoa Comoros Dominica Tonga São Tomé and Príncipe Kiribati Tuvalu36

Gross National Product (GNP)  The total value of all final goods and services produced within a nation in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country.  GNP is one measure of the economic condition of a country, under the assumption that a higher GNP leads to a higher quality of living.

Top GNP Countries Rank United States 15,097,083 United States 14,648,955 United States 14,135,520 2 China 6,628,086 China 5,717,592 China 4,822,913 3 Japan 5,774,376 Japan 5,359,236 Japan 4,793,538 4 Germany 3,594,303 Germany 3,513,807 Germany 3,472,823 5 France 2,775,664 France 2,745,670 France 2,742,735 6 United Kingdom 2,366,544 United Kingdom 2,373,636 United Kingdom 2,532,124 7 Italy 2,146,998 Italy 2,149,222 Italy 2,141,109 8 Brazil 2,107,628 Brazil 1,859,414 Brazil 1,575,897 9 India 1,746,481 India 1,539,419 Spain 1,469, Canada 1,570,886 Canada 1,475,865 Canada 1,412,899

The difference is…  GDP defines its scope according to location  GNP defines its scope according to ownership.

What is a Multinational Corporation?  is a corporation enterprise that manages production or delivers services in more than one country.  Many countries fight to have MNCs as they can lead to increased tax revenue, employment, and economic activity.  In many cases governments offer MNCs incentives such as tax breaks, pledges of governmental assistance or lax environmental and employment regulations.

Multinational Corporations  In the 70’s and 80’s large multinational corporations (Nike, Adidas, Gap, Ralph Lauren) started to leave the north for the south because of labour and environmental regulations.  Ex: rising minimum wages, and emissions control laws

Multinational Corporations  MNCs invested money in the southern economies, but only invested with the interest of boosting economic growth, and not improving social conditions  Many countries have limited choices. Either the people accept unfair terms of employment by the MNCs or the country tries to borrow more money through the IMF to help their ailing economies.

How many do you know?  os os