Table of contents
1. Introduction
2. GDP as a measure of economic activity and well being
3. Problems which arise by comparing GDP across countries
4. Conclusion
5. List of references
1. Introduction
The purpose of this essay is to find out whether GDP (gross domestic product) is a good measure of economic activity and well being and which problems arise by comparing GDP across countries. The paper starts with a brief definition of the gross domestic product. Strengths and weaknesses of the GDP with respect to measuring of economic activity and well being will be discussed in the following. Next, the paper deals with difficulties which could occur by comparing GDP of different countries. Finally, a conclusion is given to identify the key findings of this essay.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- GDP as a measure of economic activity and well being
- Problems which arise by comparing GDP across countries
- Conclusion
- List of references
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This essay aims to explore the effectiveness of GDP as a measure of economic activity and well-being, considering the challenges that arise when comparing GDP across different countries. It focuses on understanding the limitations and advantages of GDP in reflecting economic reality and the factors that influence its accuracy in measuring economic performance.
- GDP as a measure of economic activity
- GDP as a measure of well-being
- Problems in comparing GDP across countries
- The limitations of GDP as a comprehensive indicator
- The potential of GDP as a useful tool for economic analysis
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This section introduces the purpose of the essay and provides an initial overview of the topics to be explored. It defines GDP and highlights the essay's focus on its strengths and weaknesses as a measure of economic activity and well-being.
- GDP as a measure of economic activity and well being: This chapter delves into the concept of GDP and its connection to economic activity. It examines the components of GDP, including consumption, investment, government purchases, and net exports. The chapter discusses both the strengths and limitations of GDP as a measure of economic activity, highlighting its ability to reflect the production and consumption of goods and services while acknowledging its failure to capture social and environmental factors.
- Problems which arise by comparing GDP across countries: This chapter explores the challenges associated with comparing GDP across different nations. It examines the impact of population size, differences in economic development, and variations in currencies on GDP comparisons. The chapter discusses how these factors can influence the reliability of GDP data and the need for adjustments to ensure a fair comparison between countries.
Schlüsselwörter (Keywords)
The key topics explored in this essay include Gross Domestic Product (GDP), economic activity, well-being, economic growth, income distribution, environmental impact, social factors, international comparisons, currency exchange rates, purchasing power parity, and economic performance.
- Quote paper
- MSc International Business Management with Logistics Thomas Bauer (Author), 2012, Is GDP a good measure of economic activity and well being?, Munich, GRIN Verlag, https://www.grin.com/document/205712
