Qualification > Commerce
ALL ECONOMICS DISCUSSION, PAPERS HELP HERE!!
J.Darren:
--- Quote from: The Lion Son Of Canaan on June 02, 2010, 03:22:29 pm ---Isnt it the income per head or something ?
What would you write if this were a 4 mark question ?
--- End quote ---
What you are referring to is called net national income per capita.
holtadit:
Last question.
Could you differentiate between; GNP, GDP and NNP ?
Please and Thank You ! :D
J.Darren:
--- Quote from: The Lion Son Of Canaan on June 02, 2010, 03:45:52 pm ---Last question.
Could you differentiate between; GNP, GDP and NNP ?
Please and Thank You ! :D
--- End quote ---
GNP - not included. Gross National Product - GDP subtracted by net property transfer from abroad (e.g. rent on properties owned abroad, dividends paid by foreign companies, interest in loans overseas, interest in savings overseas, profits from businesses owned abroad, salary earned when working abroad). Net prpperty transfer from abroad is essentially the same as the income account of current accounts - balance of payments.
NNP - not included as well. Net national product - http://www.investopedia.com/terms/n/net-national-product.asp
destructor:
--- Quote from: The Lion Son Of Canaan on June 02, 2010, 03:22:29 pm ---Isnt it the income per head or something ?
What would you write if this were a 4 mark question ?
--- End quote ---
Firstly if it were a four mark answer
this would be your answer
the definition is that it is an approximation of the value of output produced in a country per person
can also be referred to as average income earned by an average individual in the economy because the total sale of national output produces the total national income...(Both are relative terms)
Then the formula: total GDP/population
Next its use must be defined
such as it is used as an effective indicator to measure the standards of living in the country
and the obvious conclusion that countries with high GDP per capita are more productive and its standards of living are better. hence such countries tend to be MEDC's
J.Darren:
--- Quote from: destructor on June 02, 2010, 07:30:17 pm ---can also be referred to as average income earned by an average individual in the economy because the total sale of national output produces the total national income...(Both are relative terms)
--- End quote ---
I disagree, I think it would be necessary for a candidate to differentiate between the two. GDP - output whereas NNI applies a drastically different methology in ... calculating.
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