Gross Domestic Product (GDP), Gross National Product (GNP), GNP per capita, Economic growth, Inequality of wealth, Inflation, Unemployment, Economic structure, Demographics
2 of 11
Gross Domestic Product (GDP)
The total value of goods and services produced by a country in a year.
3 of 11
Gross National Product (GNP)
Measures the total economic output of a country, including earnings from foreign investments.
4 of 11
GNP per capita
Is a country's GNP divided by its population. (Per capita means per person.)
5 of 11
Economic growth
Measures the annual increase in GDP, GNP, GDP per capita, or GNP per capita.
6 of 11
Inequality of wealth
The gap in income between a country's richest and poorest people. It can be measured in many ways, (eg the proportion of a country's wealth owned by the richest 10 per cent of the population, compared with the proportion owned
7 of 11
Inflation
Measures how much the prices of goods, services and wages increase each year. High inflation (above a few percent) can be a bad thing, and suggests a government lacks control over the economy.
8 of 11
Unemployment is
The number of people who cannot find work.
9 of 11
Economic structure shows
The division of a country's economy between primary, secondary and tertiary industries.
10 of 11
Demographics
Study population growth and structure. It compares birth rates to death rates, life expectancy and urban and rural ratios. Many LEDCs have a younger, faster-growing population than MEDCs, with more people living in the countryside than i
11 of 11
Other cards in this set
Card 2
Front
Economic indicators are:
Back
Gross Domestic Product (GDP), Gross National Product (GNP), GNP per capita, Economic growth, Inequality of wealth, Inflation, Unemployment, Economic structure, Demographics
Comments
No comments have yet been made