GEOG 1014 Lecture Notes - Lecture 17: Population Growth, Gross National Happiness, Flea Market
Document Summary
Gross domestic product: sum total of all the goods and services produced and sold in the country in one year o o. Anything underground (black market, flea market, bartering b/w friends) Countries worth less than 60 billion a year o o o. Is gdp the best indicator of how well off a state is? o. China has a huge population so gdp is divided up a ton. Australia and canada have smaller populations so their gdp is not divided as much into the population. Misses a lot of things (whatever the gov does not see) Undervalues a lot of things that happen in some states. Undervalues a lot of things that happen in some states o. Does not account for health, satisfaction, personal freedom/liberties. 1000 people in a classroom and measured gdp per capita. Run by a dictator who steals all the money from the country that theymake from oil (the bill gates of this country)
