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GDP presentation


Besarta Ramadani

on 27 April 2010

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Transcript of GDP presentation

What is GDP? Defn: A measure of all of the goods + services produced in a country over a year.
It is quite useful to show the performance of an economy. 3 factors that can affect level of GDP: 1.) How the economy is running - Recession(low rate)? Economic growth (high rate)?
2.) The price that is put on a country's limited resources - so an increase in price = increase in level of GDP + vice versa 3.) How much they import and export more exports = higher GDP
What might have caused the GDP to increase? Changes in techonological changes - made U.K more innovative + competitive Increase in labour productivity - more people working effectively + firms producing at maximum potential The value of Pound drops relative to other currencies - it means that U.K can increase demand for our products = increase exports
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