Friday, August 12, 2011

World economy ranking?

gdp is the monetary value of all the finished goods and services produced within a country's borders in a specific time period, basically a measure of the strength and size of a country's economy. one of the most important things to keep in mind when looking at gdp is that population affects it tremendously. population affects the gdp because gdp measures spending and production of goods and services in a nation so if there are more peopple they will most likely produce more goods and services. the population of brazil is 193,733,800, indias is 1,155,347,700, and mexicos is 107,431,230. the population of sweden is 9,302,123, norway is 4,827,038, and denmark is 5,529,270. so of course over a billion indians are going to have more economic power than 10 million swedes. the average swede, however, has a much better quality of life and more money than the average indian. also in places like china or india there is huge income disparity and only a small percentage of population is extremely rich, while everyone else remains extremely poor.

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