Please enable JavaScript.
Coggle requires JavaScript to display documents.
MEASURING ECONOMIC GROWTH - Coggle Diagram
MEASURING ECONOMIC GROWTH
COUNTRY'S GDP (Gross Domestic Product)
GDP records how much a country has invested or spent money on. This can determine a country's growth
GDP per Capita: The total GDP of a country in a year divided by number of population
CPI (Consumer Price Index) is used to measure the inflation rate so the government can predict if an inflation is coming or not.
UNEMPLOYEMENT RATE/ LABOR FORCE
UNEMPLOYMENT is the people who arent working or arent active in the economy
TYPES OF UNEMPLOYMENT:
STRUCTURAL UNEMPLOYMENT
Sectorial Unemployment
Technological Unemployment
Regional Unemployment
CYCLICAL UNEMPLOYMENT
VOLUNTARY UNEMPLOYMENT
FRICTIONAL UNEMPLOYMENT
SEASONAL UNEPLOYMENT
IMPACT OF UNEMPLOYMENT
POVERTY
GOVERNMENT SPENDINGS
USE OF SCARE RESOURCES
TAX REVENUE
GDP
CONSUMER AND BUSINESS CONFIDENCE
SOCIETY
INFLATION
TYPES OF INFLATION
DEMAND PULL INFLATION: too much demand
COST PUSH INFLATION: business cost rises.
INFLATION is the increase in average prices in economy.
DISINFLATION: An inflation with more drastic downfall.
DEFLATION: The economy isnt growing anymore but falling.
DEPRESSION: an inflation gone widespread
STAGFLATION: Inflation rises high but the economy isnt growing.
REFLATION: A slowdown in demand (aggregate demand)
HYPERINFLATION: Inflation rate so high it's uncontrollable
IMPACT OF INFLATION
EXPORTS
UNEMPLOYMENT
WAGES/SALARY
MENU COST
PRICES
SHOE LEATHER COST
UNCERTAINTY
BUSINESS AND CONSUMER CONFIDENCE
What is Economic Growth
Impact of Economic Growth
EMPLOYMENT RATE
STANDARDS OF LIVING
POVERTY
PRODUCTIVITY
INFLATION
THE ENVIRONMENT
Economic Cycle
DOWNTURN: After the boom, the business will still grow but slower than before.
RECESSION/DEPRESSION: The bottom of the cycle where the demand decreases and might even fall to none
BOOM: The growth where the business thrives because demand is rising.
RECOVERY: The business recovers from the depression/recession and regains confidence in growth.
