Economic activity w/ eli and diego

What does GPD Stand for?

• Global Domestic Product

• Gross Domestic Profit
• Gross Domestic Product

• Government Development Program

Why Is GPD important information you need to know?

• GDP is important because it measures the economic performance of a country and provides valuable information about its overall health and growth.
• GDP is irrelevant and does not provide any useful information.
• GDP only measures the economic performance of individuals, not countries.
• GDP is only important for small countries, not large ones.

What are the components of GPD?

• consumption, investment, and Business

• consumption, stocks, and government

• consumption, and government

• consumption, investment, and government

What are labor activities?

• Activities performed by machines to produce goods or provide services.
• Tasks and actions performed by managers to produce goods or provide services.
• Tasks and actions performed by workers to produce goods or provide services.
• Actions performed by consumers to produce goods or provide services.

What are some examples of labor activities?

• Employment, Unemployment rate, and labor force

• Employment, and unemployment

• Employment, labor force, and cooking

• cashier, farmer, and teacher

What is Productivity

• Productivity is the measure of how efficiently resources are used to produce only goods.

• Productivity is the measure of how efficiently resources are used to produce goods or services.

• Productivity is the measure of how quickly goods or services are produced.
• Productivity is the measure of how effectively resources are used to produce goods or services.

What is consumer spending?

• The total amount of money saved by individuals or households.
• The total amount of money spent by business on goods and services.

• The total amount of money spent by individuals or households on goods and services.

• The total amount of money spent on luxury items by individuals or households.

What is personal income?

• Income earned from investments
• Total earnings received by an individual from all sources
• Income earned from a single source
• Total earnings received by a household

What is retail sales?

• Total sales of goods and services by retailers to the final consumers
• Sales of goods and services by retailers to wholesalers
• Sales of goods and services by manufacturers to retailers
• Sales of goods and services by wholesalers to retailers

What are some examples of retail sales?

• bookstores, pharmacies, and pet stores
• restaurants, movie theaters, and hair salons
• hardware stores, toy stores, and furniture stores
• clothing stores, grocery stores, electronics stores, and department stores