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finals ss 7

economic health

QuestionAnswer
gross domestic product(GDP) the total, final value of products created within the borders of a nation in a year
gross national product(GNP) total value of goods and services produced by nationality
economic growth the increase of the production of a good and the increase of consumers buying it
inflation increase in price of goods and services and how fast the price is rising
deflation decreasing in the price of goods and services
GDP per capita total final value of a product divided by it population
GNP per capita represents the value of final output of goods and services. reflects average income.
Created by: fionn mclaughlin