Table 12-9 -Refer to Table 12-9

question 122

Essay

Table 12-9
$\begin{array}{|l|r|r|}\hline \text { Product } & \text { Quantity } & \text { Priceper Unit } \\\hline \text { Steel } & 1,000 & \$ 100 \\\hline \text { iPods } & 5,000 & 200 \\\hline \text { Autos } & 500 & 25,000 \\\hline \text { Legal services } & 100 & 2,000 \\\hline\end{array}$
-Refer to Table 12-9.Suppose that the above table represents the goods and services produced in a very simple economy in 2018.Assume that steel is used as an input in the production of autos.Using that information,calculate GDP for the year 2018.

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Definitions:

Developing Countries

Nations with a lower living standard, underdeveloped industrial base, and low Human Development Index (HDI) relative to other countries.

Distribution Complexity

The degree of difficulty and intricacy involved in distributing products or services from the producer to the consumer.

Glocalization

The practice of conducting business according to both local and global considerations, blending global strategies with local adaptations.

Cultural Sensitivity

Awareness and respect for cultural differences, playing a crucial role in effective communication and interaction in diverse environments.