MGTA01H3 Lecture Notes - Lecture 5: Walmart, Underemployment, Discouraged Worker

• School: UTSC
• Department: Management (MGT)
• Course: MGTA01H3
• Professor: Professor Boivard

Document Summary

Gross domestic product (gdp) the total value of all the goods, and services that are produced within a country, during any given period. The word gross means total or whole . The word domestic means here at home or inside our border . The word product means the result that which gets produced. Gross domestic product means the total of all of the goods and services that are produced within a country. Gdp provides us with a dollar-based measure of how much canadians produce. Gdp is calculated for provinces, states, and territories, as well as cities. Gdp gives us one simple measure of how much a country has produced. The largest gdp is the united states. United states is fill with natural resources like good farm land, huge forests, lots of minerals and metals and oil. China has the second largest gdp in the world. Limitations of gdp what it does not tell us.