MGTA01H3 Lecture 1: Week 5
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MGTA01H3 Full Course Notes
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Distribution and equality( how equally are we sharing the products produced in canada) Gdp= total value of all goods and services produced within a country in a year. If a country has large gdp: many workers, using many factors, producing many things of high value. Gnp= total value of all goods and services produced by factors belonging to a country. Gdp : measures values of goods and services produced in canada. Gnp : measures values of goods and services produced by canadian organizations, anywhere in the world. Jobs and revenue generated increase canadian gdp (it happens here) Jobs and revenue generated increase us gnp (microsoft is us organisation) Gdp per capita = gdp per person (gdp/ population) = gdp per capita. Gdp per capita is measure of productivity. A country has high productivity if it has plentiful, cheap high quality, factors of productions to put to good use.
