MGTA01H3 Lecture 6: Lecture 6 - International Business
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Lecture 6 chapter 2: basic measures of economics performance. gdp, gdp growth, gdp/capita, productivity, unemploy ment. gdp is the dollar value of all the goods and services produced in the course of one year in a country. us produces about 11-12 times more products than us. canada had huge policy changes + mass globalization + opened to the world (export) divide total gdp with the population to get gdp per capita. doesn"t say if everyone is healthy, but if its relatively healthy or relatively poor. canada is in the top 20 of the world. canada"s gdp is less than the us, us is a little bit richer on average than canada. us is 20% more wealthier than us because of productivity, make more. can make more stuff if you have access to lots of and good quality factors of production.