Exam1 - FC6 - The flashcards are formatted for printing...

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Economic Environment Economic Environment
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The existing wealth of a nation; how rich a country is tells us how people deal with things because it makes them think very differently. The capacity of a region to produce new wealth (is wealth growing)?
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Gross Domestic Product Gross Domestic Product (GDP)
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The value of all goods and services produced in a country. Everything produced within a country regardless of where the company is owned.
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Gross National Income (GNI) GDP; GNI
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____ measures the wealth of a country while ____ measures the power of a country. The value of all goods and services produced by “national” companies regardless of where they’re produced.
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GDP Per Capita Gross National Income (GNI)
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Measures the value of all companies that are based inside the country. How much wealth each individual has (purchasing power parity); calculated as GDP / Population.
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Distribution of Economic Freedom GDP Rate of Change
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Comprehensive measure that reflects “if you’re not growing, you’re dying”;
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