One Indicator of Productivity Is Gross Domestic Product Per Person

question 89

Multiple Choice

One indicator of productivity is gross domestic product per person. The gross domestic product refers to the:

• A)market value of all products produced in one year.
• B)comparative measure of life expectancy and literacy.
• C)index of human well-being.
• D)total output of the economy.
• E)personal consumption expenditures.

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Definitions:

Features of Capitalism

include private property ownership, capital accumulation, wage labor, voluntary exchange, a price system, and competitive markets, driving economic growth and innovation.

Corporate Entities

Organizations or companies recognized by law as a single entity, separate from its owners, with its own rights, responsibilities, and liabilities.

Oligopolies

Giant corporations that control part of an economy. They are few and tend not to compete against one another. Instead, they can set prices at levels that are most profitable for them.

Dominate an Industry

To be the most influential or powerful entity within a particular market or sector, often through superior products, market share, or innovative strategies.