Is GDP a good measure of economic activity and well being?

What particular problems arise when comparing GDP across countries?

Business & Finance, Economics, Macroeconomics
Cover of the book Is GDP a good measure of economic activity and well being? by Sebastian Kress, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Sebastian Kress ISBN: 9783656175520
Publisher: GRIN Verlag Publication: April 23, 2012
Imprint: GRIN Verlag Language: English
Author: Sebastian Kress
ISBN: 9783656175520
Publisher: GRIN Verlag
Publication: April 23, 2012
Imprint: GRIN Verlag
Language: English

Essay from the year 2012 in the subject Economics - Macro-economics, general, grade: 2, Heriot-Watt University Edinburgh (School of Language and Management), language: English, abstract: The business world offers numerous examples of corporations benefiting from competition, as they have to increase their productivity, economise their cost, and need to strive for innovations. It is generally agreed, that from a microeconomics' view firms seek to win this competition, which can be determined by parameters such as revenue, profit, or customer satisfaction. Ancillary, competition does not only prevail between companies on a microeconomics level but also among country's economies on a macroeconomic level. This competition received a lot of attention in recent years, which is also biased by the shift towards a more integrated and interdependent world economy that can be referred to as the term globalisation (Hill, 2011, p.24). However, it needs to be questioned, how to contrast the performance of one economy with the performance of another. How can we assess national income or output? The measure that is widely accepted and used is called gross domestic product (GDP) (Sloman and Wride, 2009, p.393). The purpose of this paper is to briefly outline what exactly incorporates in GDP and mainly to examine whether GDP is a good measure of economic activity and well being.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Essay from the year 2012 in the subject Economics - Macro-economics, general, grade: 2, Heriot-Watt University Edinburgh (School of Language and Management), language: English, abstract: The business world offers numerous examples of corporations benefiting from competition, as they have to increase their productivity, economise their cost, and need to strive for innovations. It is generally agreed, that from a microeconomics' view firms seek to win this competition, which can be determined by parameters such as revenue, profit, or customer satisfaction. Ancillary, competition does not only prevail between companies on a microeconomics level but also among country's economies on a macroeconomic level. This competition received a lot of attention in recent years, which is also biased by the shift towards a more integrated and interdependent world economy that can be referred to as the term globalisation (Hill, 2011, p.24). However, it needs to be questioned, how to contrast the performance of one economy with the performance of another. How can we assess national income or output? The measure that is widely accepted and used is called gross domestic product (GDP) (Sloman and Wride, 2009, p.393). The purpose of this paper is to briefly outline what exactly incorporates in GDP and mainly to examine whether GDP is a good measure of economic activity and well being.

More books from GRIN Verlag

Cover of the book Kindeswohlgefährdung und Kinderschutz by Sebastian Kress
Cover of the book Die Bedeutung der digitalen Signatur für den elektronischen Rechtsverkehr by Sebastian Kress
Cover of the book Innovationsmanagement in deutschen Klein- und Mittelbetrieben by Sebastian Kress
Cover of the book Motivation in der offenen Jugendarbeit by Sebastian Kress
Cover of the book Die Bedeutung des historischen Jesus in Paul Tillichs Christologie (ST II) by Sebastian Kress
Cover of the book Die Bindungstheorie nach John Bowlby und Mary Ainsworth by Sebastian Kress
Cover of the book Ausfüllen einer Bewirtungsanmeldung (Unterweisung Industriekauffrau / -kaufmann) by Sebastian Kress
Cover of the book Kundenbindungsmanagement. Kundenzufriedenheitsanalyse und Ableitung von Handlungsempfehlungen zur Steigerung der Kundenbindung by Sebastian Kress
Cover of the book Straftaten gegen Leben und Freiheit des Menschen by Sebastian Kress
Cover of the book Das inklusive Konzept der Montessori-Pädagogik und das Menschenrecht auf Bildung für Behinderte by Sebastian Kress
Cover of the book Werbesprache im Russischen by Sebastian Kress
Cover of the book Die deutsche Ausländerpolitik von 1955 bis 1973. Grundlagen, Konzeptionen und Ziele der Anwerbepolitik by Sebastian Kress
Cover of the book Managing Corporate Culture after a M&A (example DaimlerChrysler) by Sebastian Kress
Cover of the book Die Grundsicherung für Arbeitssuchende (SGB II) und ihre Auswirkungen auf die Berufsbegleitenden Dienste für seelisch behinderte Menschen - eine Herausforderung an die Leitung by Sebastian Kress
Cover of the book Die Messenischen Kriege by Sebastian Kress
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy