Gross Domestic Product College - Essay Example

Only on StudentShare

Extract of sample
Gross Domestic Product College

As for 'government spending' it is the sum of government expenditures on final goods and services, including salaries of public servants, purchase of weapons for the military, and any investment expenditure by a government.
First of all, it should be noted that GDP was not designed to evaluate the well-being of a country. Instead, it measures particular types of economic activities within the country, which does not necessarily refer to a standard of living. For one crude example, a country with all goods and services exported will have a high GDP but low well-being of its citizens.
Second, GDP takes into account only documented operations. It does include neither black market, nor non-monetary operations, like bartering, showing inaccurate information for countries where any of these issues plays an important role. Moreover, some companies commit a cross-border trade within themselves in order to escape high taxation - this distorts GDP, creating additional imports/exports data.
Third, GDP indicator shows little information for changes in ecology, society, and lifestyle. ...
Download paper

Summary

Gross Domestic Product or GDP has become an important indicator for economic health of a state since the beginning of industrial revolution. Generally, GDP of a country reflects the market value of all final goods and services produced within its borders for a set time period…
Author : larissamaggio

Related Essays

Gross Domestic Product Essay
GDP at current market prices shows the values of the goods and services at the current market prices whereas GDP at the base price i.e. in this case it is 2000 shows the values of all the aggregate products valued at fixed base year prices. The depiction of GDP at some base price is basically done in order to measure the value of the nominal GDP of any country i.e. the impact of inflation is not discounted while expressing nominal GDP. The difference between the GDP at two price levels therefore reflects the inflationary pressures over the economy any country.
...
11 pages (2761 words) Essay
Corporate Finance College Essay
The Company's principal trading activities are carried out through its wholly owned subsidiaries CNG Hotels Limited, CNG USA, Inc. and Tzell Travel, LLC. CNG Hotels distributes hotel room inventories whilst Tzell is a large United States-based, full-service, corporate travel agency.
...
7 pages (1757 words) Essay
Marketing communications College Essay
Brothers and co-founders Theo and Karl Albrecht own the company.
...
8 pages (2008 words) Essay
Gross Domestic Product
The dependent variable used for this study is the Gross domestic product (GDP) of the United Kingdom (UK). GDP is an important measure for any country because it represents the healthiness of its economy. It is calculated by summing the market value of all goods and services produced within this economy. The percent change in GDP is used to measure the growth in the economy during the specified period. GDP is measured in real prices in order to remove the effect of inflation.
...
8 pages (2008 words) Essay
Product Development Essay
L'Oreal is involved in consumer driven products especially the cosmetic products which is considered to be neat business. Irrespective of the nature of the business, the company is committed towards its moral and ethical responsibilities. The objective of the company is to represent itself as "global citizen". The company has pursued reforms and plans to achieve sustainable development; the company was recognised as top 100 sustainable companies in an international survey by Innovest and Corporate Knights. The company has received several acclamations; it has been listed among the leading...
4 pages (1004 words) Essay
New Product Development Essay
(Chopra et al, 2007) New product development is that series of events that starts with the conception of the product and its ideation, and ends with reaching the product to the end user through strategic brand positioning through the meeting of competitive advantage. New product development is an important part of any and every business today in order to show a portfolio that thrives on enrichment through innovation and new experiences in the market place. It is a concept that will hold the prospective consumer's attention for long enough in order to turn him or her into an actual end user. In...
6 pages (1506 words) Essay
Got a tricky question? Receive an answer from students like you! Try us!