75CE4C2Ed01 - Questions Why do some countries grow quickly...

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Global Business Environment Questions Why do some countries grow quickly and others not at all? 10,000 years ago, 1 hour of light cost 60 hours. In 1800, 6.5 hours of work bought candles with equal light. Now, ½ second of work pays electricity cost. 60% of world lives in countries where average income is less than 10% of richest countries.
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Global Business Environment SOURCE : IMF USA 29% EU 29% Japan 14% China 3% Canada 2% Australasia 1% Rest of World 22% World GDP (1999, 29.2 Trillion)
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Global Business Environment What is GDP? The total income earned domestically. The value of all final goods and services produced in a country. GDP = Sum Goods ( Price Good i x Quantity )
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Global Business Environment Why Does Output Matter? Write down 2 reasons that you, personally, might care about how much economic value a country produces.
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Global Business Environment GDP and GDP Per Capita 2002 GDP Luxembourg: $20 billion China: Over $1 trillion Is China richer than Luxembourg?
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Global Business Environment
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This note was uploaded on 12/10/2010 for the course ECONOMICS 432 taught by Professor Jannett during the Spring '10 term at Brown.

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75CE4C2Ed01 - Questions Why do some countries grow quickly...

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