2. GDP Flashcards
(8 cards)
What is GDP?
The total money value of all the goods and services produced in a country over a period of time, usually a year.
How is per capita GDP calculated?
It is the total GDP divided by the population.
In less-developed countries, which economic sector is more important?
The primary sector.
What is the main occupation of the active population in less-developed countries?
Agriculture.
In developed countries, which sector is continually growing?
The tertiary sector.
What kind of infrastructure is established in developed countries?
Business and industrial infrastructure.
Fill in the blank: GDP is the total money value of all the goods and services produced in a country over a period of time, usually a _______.
year.
True or False: Per capita GDP is a measure of economic output per person.
True.
