Indicators of Growth (Edexcel A-Level Business): Flashcards
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Practise the cards
10 cards from this deck
GDP per capita
GDP per capita
Total value of goods/services produced per person annually
Real GDP adjustment
Real GDP adjustment
Adjusts for inflation to show true increase in output
PPP (Purchasing Power Parity)
PPP (Purchasing Power Parity)
Cost to buy standardized basket of goods in different countries
PPP advantage over market exchange rates
PPP advantage over market exchange rates
Shows realistic consumer purchasing power, not just currency
Literacy rate
Literacy rate
% of adults over 15 who can read and write
Why literacy matters for workforce
Why literacy matters for workforce
Workers follow instructions, use tech, adapt to new processes
Why health indicators matter
Why health indicators matter
Healthy workers are more productive and take fewer sick days
HDI three components
HDI three components
Life expectancy, education (schooling), and income (GNI)
Mean years of schooling
Mean years of schooling
Average education a 25-year-old person has received
Why use multiple indicators together
Why use multiple indicators together
Build complete picture of market potential, not just one aspect