The Brics

F. Gross national income in purchasing power parity per capita (GNI PPP/capita) converts income into "international dollars" and indicates the amount of goods and services one could buy in the United States with a given amount of money.

Gross domestic product (GDP) is used to measure the size of the economy. GDP is the total value of the final goods and services produced within an economy in a year or quarterly.

Gross Domestic Product, also known as GDP, is defined as the dollar value of all final goods and service produced within the border of a country during a specific period of time, typically in one year. GDP measures the value for the whole country, and it also changes quickly. We can take a look at the trends of US GDP in the website of the U.S. Bureau of Economic Analysis.

The one way one can comprehend the United States economy is through looking at its GDP (Gross Domestic Product). Gross Domestic Product is the statistic employed to measure the aggregate output of the nation (Mankiw, 2011). More so, GDP is described as the total monetary value of finished services and goods that are produced in the country at a specific period in time. GDP is considered one of the principal pointers that gauge the health of a nation's economy and it is calculated in inflation-adjusted terms or in real terms (King, Gans & Mankiw, 2011). GDP entails all of public and private consumption, investments, government outlays, exports minus importers of a country. It is therefore calculated through the following formula GDP=C (consumption)+G (Government spending)+I (Investment)+NX(Exports-Imports) (Mankiw, 2011).

To get everything produced by a country's citizens, no matter where they are in the world, you should look at Gross National Product (GNP), also called Gross National Income (GNI).” (Amadeo,K. n.d) Each month, the Bureau of Economic Analysis (BEA), an agency of the U.S. Department of Commerce, releases an estimate of the level and growth of U.S. gross domestic product (GDP), which is the output of goods and services produced by labor and property located in the United States.

2) Afghanistan and Japan differ greatly in terms of the Human Development Indicator (HDI) which include the GDP and GNI per capita, infant mortality rate, literacy rate and life expectancy. The GDP (Gross Domestic Product) or GNI (Gross National Income) per capita, which are both indicators of a nation’s level of wealth, are determined by dividing the GDP or GNI by the total population of the country. Japan has a GPD per capita of $34,870 whereas Afghanistan has a GDP per capita of only $2,000. Here, Japan, having a much higher GDP per capita is considered a rich developed country and Afghanistan, with a much lower GDP per capita, is considered a poor developing country. Another HDI that determines the wealth level of the country is the infant mortality rate.

A: Gross Domestic Production (GDP) and Gross National Production (GNP) are both measuring the market value of all goods and services produced for final sale in the economy. The distinction is the

To begin with, recall that Gross domestic product is the thing that decides the monetary development of one nation. Remember, there is a monetary development just when genuine Gross domestic product is expanded, so if the genuine Gross domestic product diminishes, there is a financial decrease which is something not useful for an economy. Gross domestic product is dictated by

Economic factors , are issues to do with the economy. They influence businesses and people who take part in the economy , it includes things like interest rates ,unemployment rates , taxes , inflation, periods of growth and recession.

Thus, I would recommend this video to my fellow students as a concise introduction to these four important factors of economics. https://www.youtube.com/watch?v=OK9w2xZWuaU The second video, “Introduction, Factors of Production, and The Circular Flow Model”, also served as an introduction to economics and its factors of production, but provided more detailed information. This video provided a general definition of economics as “the study of unlimited wants with limited resources” while defining the factors of productions as everything that comes together to make a product- specifically Land, Labor, Capital, and Entrepreneurship. Besides defining each factor, however, the video introduces the concept of factor payments for

The primary question that Brazil faces as it moves into the 21st century is whether the Brazilian style of capitalism, which harnessed their economy towards growth as a developing economy, is sufficient to drive them as a developed country. Averaging 3.8% GDP growth over the last decade, this transition seems inevitable; Brazil has shifted from an agricultural giant to a country in which 90% of the population works in the industrial and service sectors. However, as they make this conversion, they must examine their economic policies to ensure that they are still applicable and advantageous. For example, Brazil must keep promoting their industrial policies. Brazil may fall back into a commodity-driven economy if raw

This can be measured by the following formula; Per capita nominal GDP = Nominal GDP / Population, Per capita real GDP = Real GDP / Population. Seven factors determine economic growth. Natural resources such as land, mineral deposits, waterways; climatic conditions provide an essential foundation to economic growth. Combined with the other resources of capital, labor and enterprises, natural resources can be developed and organized to increase the productive capacity if the nation. Consequently the quality and size of the labor force is a major determinant of economic growth. Education and vocational training are essential the growth potential of a nation. The promotion of education and job training schemes increase the knowledge, skills and flexibility of the workforce that contributes to potentially higher levels of productivity and efficiency. Whether from natural increase or immigration population growth can cause a higher level of economic growth. An increasing population requires increased public spending on housing, education and other social needs while businesses expectations of

The objective of MNC to operate in other countries is to gain competitive advantage through several ways. Firstly, MNC is able to take advantage of difference in country-specific circumstances. For example, MNC may choose to locate its productions in less developed country like Vietnam to gain cheap labor cost. Secondly,

The world has been increasingly globalising in terms of political interest, acquisition of resources, and business opportunities over the last few decades. By reason of this explosion, national economies become incrementally more mutually dependent. In the meantime, cross-border business has been accelerated by MNEs, which have become universal. Furthermore, MNEs are perceived to be a chief vector of globalisation (OECD, 2005). However, there have been contrastive viewpoints on the argument of whether MNEs are the genuinely global. There are a number of existing international business studies point out that MNEs’ principle sales and related operation tend to concentrate in their home region. In other words, MNEs mostly operate on a regional level. Rugman and Verbeke (2004) conclude that the majority of multinational enterprises’ dominant sales volume generate from the particular regional market. Additionally, MNEs’ products and services are not proportionally distributed worldwide in terms of consumers’ preference. It has been identified based on the world largest 500 MNEs’ sales volume, and thereby a few number of MNEs are perceived as undeniably global. The reason of that, the MNEs’ trades can be equally distributed to each region or economy. Nevertheless, the outlined above observation might be limited because the dimension is primarily conducted by the proportion of sales distribution. Nonetheless, recent research has established alternative empirical evidence on this

These factors can be set into five categories: Physical, HR, Knowledge, Infrastructure and Capital Resources (Karkkainen V., 2008). There are two types of factors consist of: basic factors and advanced factors. Basic factors contain labour, basic educational system, raw material and national resources. Advanced factors contain skilled labour, modern infrastructure and highly education. Example about how factor condition influences the global competitiveness of a country; Egypt government develop infrastructure in the last three years such as transport systems, communication, payment system, post and system used to transfer money. Egyptian telecom companies illustrate the diamond. It has a relatively high number of communication engineers per