Economic Forces.docx - Zeniff Aviles[216974131 ADMS 1000 Section I Jenna Sweiss There are factors that are important to detect the health of an economy

Economic Forces.docx - Zeniff Aviles[216974131 ADMS 1000...

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Zeniff Aviles [216974131] ADMS 1000 Section I Jenna Sweiss There are factors that are important to detect the health of an economy, and there are three primary indicators; economic growth, economic stability, and status of the labour market. Firstly, economic growth can be a macroeconomic analysis on how an economy is growing and is affected by five factors: the business cycle, productivity, balance of trade, exchange rates, and the country’s national debt. Measuring economic growth is extremely important to keep a country’s economy on track by using two main measurements Gross National Product (GNP) which measures the value of final goods and services produced inside and outside of a country’s borders while Gross Domestic Product (GDP) measures the total value of goods and services produced within a country’s borders. Secondly, economic stability describes the absence of economic fluctuation when the money, goods, and services produced grow at the same rate.
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  • Spring '09
  • sumwaru

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