MGTA01H3 Lecture 6: Lecture 6
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MGTA01H3 Full Course Notes
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It indicates more stuff are available to the people in the country. Gdp per capita to measure the average person"s wealth. Measuring performance (page 98) the purpose of the economic system is to assemble and distribute fairly the goods and services for the community. Gdp total value of all goods and services produced within a country in a year it measures economy size not: Productivity = outputs (product/ services) inputs (people, 4609$) Gdp per capita is a measure of productivity. A country is high productivity if it has plentiful, high quality factors put to good use. Wanting a job, but can"t find it. Canada"s unemployment is higher than us larger percent of workforce not working this is due to weather troubles. Hard to commute to other places in canada where there is demand for employment. Yet, experts agree that official unemployment rate understates canada"s ability to provide meaningful work to all.
