MGC2120 Lecture Notes - Lecture 2: Neoliberalism, Monopolistic Competition, Mixed Economy
1 Aug 2018
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Is not just limited to economics or the economy. Natural endowments: agricultural and mineral resources. Innovation and entrepreneurship: new things are constantly emerging and evolving. Gross national income gni, gini coefficient: doesn"t account for purchasing power, doesn"t mean there is equal distribution. Purchasing power parity ppp: compare relative products in different countries, able to ascertain which has the better purchasing power. Hdi: human development index, developed by united nations, used to measure quality of human life, life expectancy at birth health care system, average income, level of education. Gpi: genuine progress indicator, a metric that assesses the wellbeing of the nation through. Including social, environmental factors that may be overlooked. Whr: world happiness index or report. Development that meets the needs of the present without compromising the ability of future generations to meet their own needs. East vs west: soviet union vs us and allies (capital/market based)7.
