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What are the 10 factors that affect GDP?
Main factors which can affect a country's gross domestic product are how the economy is runnning - if it's at a peak or in recession, and what price is put on a country's resources. If a country has a limited resource and put up the price and sells it all off, it's GDP will be higher, whereas if the country does not export anything, it's GDP will be lower.
In 1870 the richest country in the world was?
The united kindom gdp per person was 4,094
Explain why the GNP and GDP are different?
A country's Gross Domestic Product, or GDP, is the amount of goods and services, measured at market prices, produced within the country during a particular time period (usually a year). Gross National Product, or GNP, is the amount of goods and services produced by residents of a country, regardless of where that production takes place.A country's Gross Domestic Product, or GDP, is the amount of goods and services, measured at market prices, produced within the country during a particular time period (usually a year). Gross National Product, or GNP, is the amount of goods and services produced by residents of a country, regardless of where that production takes place.Remember, GDP concern is BORDER, whereas GNP concern is PRODUCER.Read more at : http://financenmoney.in/the-key-indicators-of-economic-growth-gdp-gross-domestic-product-and-gnpgross-national-product/
What are the advantages of Human Development Index?
i dont know how corect this will be but im gonan give it a go. tell me if there is anything that is wrong. This will show you why HDI is better then GDP and should be used as an alternative to GDP so it kind of ties in with advantagesThe human development index is calculated each year by the U.N. Development Program as a summary indicator of "Human Development," combining data on life expectancy at birth, adult literacy, educational enrollment, and average income also measured by G.D.P. per capita. Both the HDI and GDP (per capita) have similarities for example On GDP Norway have the second largest GDP per capita for 2008 as well as the 2 highest HDI for 2008 as well as Ireland being 6th in the world for GDP and HDI for 2008 There is a correlation between HDI and GDP when ever GDP goes up HDI goes up meaning that HDI can be see as an alternative according to Francisco Rodriguez.Countries are ranked according to GDP however this is not necessarily the best way to think about differences in living standards across countries. For example, GDP per capita is influenced by how much spending and output is created in that country however this does no mean that standard of living or resources are used to there full potential as huge output could be focused on army or other good/services not necessarily improving the country. GDP cannot tell you much about key issues such as human development literature rates and life expectancy, unlike HDI, which covers a wide range of factors that help to make a country.My spelling will not be perfect so pleas no comments
What is the total value of goods and services produced in a country during a given priod?
Gross domestic product - GDP
Who determines a country's GDP?
all of the resources of production together produce the GDP
What affects GDP?
Literacy rate, the amount of resources, and the country's wealth.
What are nigerias natural resources?
According to CIA World Factbook, Nigeria natural resources include oil, natural gas, petroleum, tin, iron ore, coal, limestone, niobium, lead, zinc and arable land. Oil and natural gas accounted for 37 percent of the country's GDP in 2006 (most recent stats). Agriculture, fishing and forestry also contribute significantly to the country's GDP.
How does increasing the GDP help a country?
It helps as it stops our country from being in debt so the higher the Gross Domestic Product (GDP) the lower chance of this country being in debt :)
What can a Real GDP show about an economy?
The total GDP (or Gross Domestic Product), of a country, is indicative of the productivity of its workforce. One can divide the GDP (in dollar amounts, for example) by the population of a country, and find the resulting productivity (in dollars) per person, per year, by this method.
Does GDP include the money made by selling natural resources like oil and ores?
Yes, but the exact way you would count that money depends on the method of GDP calculation that you use.
Is Luxembourg a poor or rich country?
it depends what you are referring to. if you mean rich in terms of income per capita then its GDP/capita is the highest in europe, around 130,000 euros. if you refer to richness in terms of natural resources then probably not...
What are the 10 factors that affect GDP?
Main factors which can affect a country's gross domestic product are how the economy is runnning - if it's at a peak or in recession, and what price is put on a country's resources. If a country has a limited resource and put up the price and sells it all off, it's GDP will be higher, whereas if the country does not export anything, it's GDP will be lower.
How does a country's GDP help you determine if its economy is strong or weak?
A high GDP per capita is a sign of well-being and of a strong economy.
Does Spain have resources only found in Spain?
Spain produces 90% of Europes's natural slate. Spain is the 9th largest economy in the world in GDP.
What is a country's GDP?
A country's GDP is the market-valued sum of all its economic activity.
How does human capital influence a country GDP?
How does human capital influence a country's GDP positively
