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Business cycles occur - PowerPoint PPT Presentation

Chapter 12

Chapter 12. Economic Indicators and Measurements. GDP and Other Indicators. Gross Domestic Product (GDP): is the market value of all final goods and service produced in a nation within a given time period. 3 requirements for a good or service to be included in GDP

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Standard 5

Standard 5. National Economic Performance. Gross Domestic Product (GDP). Market value of all final G/S produced within a nation in a given time period To be included, a G/S must be final (intermediate- fabric, final- shirt) and produced within borders. Calculating GDP: Consumption (C)

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Business cycles occur - PowerPoint PPT Presentation

Chapter 12

Standard 5