BUS-A 201 Chapter Notes - Chapter 2: Gross Domestic Product, Business Process Management, Purchasing Power Parity
Document Summary
External environment - everything outside an organization"s boundaries that night affect it. Economic environment - conditions of the economic system in which an organization operates. Aggregate output - total quantity if goods and services produced by an economic system during a given period. Business cycle - pattern of short terms ups and downs (expansions and contractions( in an economy. Gross domestic product (gdp) - total value of all goods and services produced within a given period by a national economy through domestic factors of production. Gross national product (gnp) - total value of all goods and services produced by a national economy within a a given period regardless of where the factors of production are located. Gdp per capita - gross domestic product per person. Real gross domestic product - gdp calculated to account for changes in currency values and price changes.
