MGTA05H3 Lecture 6: Measuring performance

• School: UTSC
• Department: Management
• Course: MGTA05H3
• Professor: Chris Bovaird

Document Summary

The total value of all goods and services produced within a country (gross domestic product) Large gdp: more workers, producing more goods and services at a higher value, using more factors of production. Small gdp: fewer workers, using less factors of production, producing fewer goods with lower value. A well performing country should: create more jobs, produce more goods and services, create prosperity for all. Recession: when gdp falls in 2/more consecutive quarter periods. The e(cid:454)pa(cid:374)sio(cid:374) a(cid:374)d (cid:272)o(cid:374)t(cid:396)a(cid:272)tio(cid:374) of a (cid:272)ou(cid:374)t(cid:396)(cid:455)"s (cid:271)usi(cid:374)ess a(cid:272)ti(cid:448)ities. Large developing countries have the greatest potential of growth. For businesses, these countries give them the most opportunities. For countries with lower gdp, growth is easier. Countries with high gdp have more trouble sustaining growth. Poor de(cid:448)elopi(cid:374)g (cid:272)ou(cid:374)t(cid:396)ies sta(cid:396)t f(cid:396)o(cid:373) the lo(cid:449)e(cid:396) (cid:271)ase a(cid:374)d ha(cid:448)e a lot of (cid:862)cat(cid:272)hi(cid:374)g up(cid:863) Measu(cid:396)es ho(cid:449) (cid:862)(cid:449)ealth(cid:455)(cid:863) the a(cid:448)e(cid:396)age pe(cid:396)so(cid:374) i(cid:374) a (cid:272)ou(cid:374)t(cid:396)(cid:455) is. However, gdp per capita is just an arithmetic mean.