MGTA01H3 Lecture Notes - Lecture 4: Gini Coefficient, Exxonmobil, Occupy Wall Street
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Measures of economic performance: produced in a country in one year. Gross domestic product (gdp): value of all goods and services. A large gdp indicates lots of workers, using lots of resources and of capital, are producing lots of things of value. Gdp per capita = a measure of relative wealth of average citizen . % of people, who are actively looking for work, but can"t find any. [gini coefficient]: measure of dispersion invented by italian mathematician. Occupy wallstreet: we"re 90% of the population, and have only 10% of the wealth, and 1% of the population has a lot of wealthmaybe we should share some. People drive into luxenberg, work hard, and then at night drive back to home. There"s no single indicator whether a country is a good or bad place to live. The reason we"re rich in canada is because we have more universities, so better education, hence better jobs.
