Class Notes (834,756)
Canada (508,705)
MGTA01H3 (348)
Lecture 4

MGTA01- Lecture 4- Sep 30.docx

3 Pages
Unlock Document

Management (MGT)
Chris Bovaird

Lecture 4- September 30, 2013 Most profitable company: Exxon Mobil Review: Measures of economic performance: Gross Domestic Product (GDP): value of all goods and services produced in a country in one year  A measure of SIZE  A large GDP indicates lots of workers, using lots of resources and of capital, are producing lots of things of value GDP Growth: more people, making more stuff Falling GDP: fewer people, making less stuff > called ‘recession’ GDP / capita Productivity Unemployment Inflation Economies should grow—sometimes they don’t GDP Per Capita GDP = total size of an economy “per capita” = “per person” GDP per capita = GDP per person GDP per capita = a measure of relative wealth of “average citizen” Productivity Some countries are richer than others Why? Answer: productivity Productivity: outputs/inputs High productivity: (i.e. wealth) is produced by: Better educated, better trained labour More $$$ -> better technology More and cheaper natural resources Is the economy using all of the resources at its disposal? Unemployment Labour is underused People want a job—can’t find one!  Unemployment defined:  % of people, who are actively looking for work, but can’t find any  [Gini Coefficient]: measure of dispersion invented by Italian Mathematician  Occupy Wallstreet: we’re 90% of the population, and have only 10% of the wealth, and 1% of
More Less

Related notes for MGTA01H3

Log In


Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.