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The gross domestic product (GDP) of a country is a measure of the size of its economy, or more specifically, monetary measure of the market value of all the final goods and services produced. [29] The most conventional economic analysis of a country relies heavily on economic indicators like the GDP and GDP per capita. While often useful, GDP ...
Of the factors influencing the duration of economic growth in both developed and developing countries, income equality has a more beneficial effect than trade openness, sound political institutions, and foreign investment. [39] Economic inequality includes equity, equality of outcome and subsequent equality of opportunity.
Economic forces are the factors that help to determine the competitiveness of the environment in which the firm operates. [1] These factors include: [2] Unemployment level; Inflation rate; Fiscal policies; Government changes; These factors determine an enterprise’s volume of demand for its product and affect its marketing strategies and ...
The development of a country has been associated with different concepts but generally encompasses economic growth through higher productivity, [13] political systems that represent as accurately as possible the preferences of its citizens, [14] [15] The extension of rights to all social groups and the opportunities to get them [16] and the ...
Growth economics studies factors that explain economic growth – the increase in output per capita of a country over a long period of time. The same factors are used to explain differences in the level of output per capita between countries, in particular why some countries grow faster than others, and whether countries converge at the same ...
Country Complexity Rankings [1] Rank Country Economic complexity index (2018) Change in 5 years (2013-18) Change in 10 years (2008-18) 1 Japan: 2.43 2 Switzerland: 2.17 1 1 3 Republic of Korea: 2.11 4 8 4 Germany: 2.09 2 2 5 Singapore: 1.85 1 6 Austria: 1.81 2 1 7 Czech Republic: 1.80 1 2 8 Sweden: 1.70 3 9 Hungary: 1.66 5 10 Slovenia: 1.62 3 3 11
A reduction in economic activity in one country can lead to a reduction in activity in its trading partners as a result of its consequent reduction in demand for their exports, which is one of the mechanisms by which the business cycle is transmitted from country to country.
In the interpretation of the currently dominant view and of a of classical economic theory developed by neoclassical economists, the term "factors" did not exist until after the classical period and is not to be found in any of the literature of that time. [7] Differences are most stark when it comes to deciding which factor is the most important.