Understanding Globalization and GDP

What does GDP stand for?

• General Domestic Product

• Gross Domestic Product

• Governmental Domestic Product

• Gross Domestic Performance

Why does GDP matter?

• GDP measures the happiness of citizens.
• GDP matters because it indicates the economic health and performance of a country.
• GDP is a measure of environmental sustainability.
• GDP is only relevant for large countries.

What does it mean if a country's GDP is increasing?

• The country is experiencing deflation

• The country's economy is shrinking

• The country's economy is growing

• The country's unemployment rate is increasing

What does it mean if a country's GDP is decreasing?

• A country's GDP decreasing suggests higher consumer spending.
• A country's GDP decreasing means its economy is shrinking.
• A country's GDP decreasing indicates a rise in employment.
• A country's GDP decreasing means its population is increasing.

What is GDP?

• Gross Domestic Product (GDP) is the total value of all goods and services produced in a country over a specific time period.
• Gross Domestic Product (GDP) is the total amount of money in circulation in a country.
• GDP measures the happiness of a country's citizens.
• Gross Domestic Product (GDP) is the total number of people employed in a country.

How does the Political and Legal Environment affect GDP?

• The Political and Legal Environment has no impact on GDP.
• Changes in the Political and Legal Environment only affect inflation rates.
• The Political and Legal Environment solely determines consumer preferences.
• The Political and Legal Environment affects GDP by influencing investment, economic stability, and regulatory frameworks.

How does technology affect GDP?

• Technology positively affects GDP by increasing productivity and creating new markets.
• Technology only affects GDP in developing countries.
• Technology decreases productivity and raises costs.
• Technology has no impact on GDP.

How does Environmental and Sustainability Factors affect GDP?

• Environmental and sustainability factors affect business operation, encouraging sustainable practices

• GDP is solely determined by technological advancements.
• Sustainability factors only negatively affect GDP.
• Environmental factors have no impact on GDP.

Companies must constantly adapt to new entrants, disruptive innovations, and changing consumer demands.

• True

• False

Automation, artificial intelligence, e-commerce are all examples of what factor that affects GDP?

• Technological

• Labor market

• Natural resources
• Economic policies