Question
For example, if both Country A and B have a GDP of $10 million, you may assume the countries are relatively similar in terms of
For example, if both Country A and B have a GDP of $10 million, you may assume the countries are relatively similar in terms of wealth and production.If you were to discover that Country A had a population of 100 and Country B had a population of 1,000,000 - you would instantly assume their financial situations would be pretty varied. Country A would have a GDP per capita of $100,000 whereas Country B would have a GDP per capita of $10.
What are some pitfalls of this approach? Is GDP per capita enough to really assess an economy with?
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Smith and Roberson Business Law
Authors: Richard A. Mann, Barry S. Roberts
15th Edition
978-0538473637
