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Economics: Difference between revisions
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* '''Gross domestic product''' ('''[[w:GDP|GDP]]''') is the [[w:market value|market value]] of all officially recognized final goods and services produced within a country in a given period of time. GDP [[w:per capita|per capita]] is often considered an indicator of a country's [[w:standard of living|standard of living]] ( Wikipedia ) | * '''Gross domestic product''' ('''[[w:GDP|GDP]]''') is the [[w:market value|market value]] of all officially recognized final goods and services produced within a country in a given period of time. GDP [[w:per capita|per capita]] is often considered an indicator of a country's [[w:standard of living|standard of living]] ( Wikipedia ) | ||
* '''[[w:David Ricardo]]''' (18 April 1772 – 11 September 1823) was a [[w:United Kingdom|British]] [[w:political economy|political economist]]. He was often credited with systematizing economics, and was one of the most influential of the [[w:classical economics|classical economists]], along with [[w:Thomas Malthus|Thomas Malthus]], [[w:Adam Smith|Adam Smith]], and [[w:John Stuart Mill|John Stuart Mill]]... ( Wikipedia ) | * '''[[w:David Ricardo|David Ricardo]]''' (18 April 1772 – 11 September 1823) was a [[w:United Kingdom|British]] [[w:political economy|political economist]]. He was often credited with systematizing economics, and was one of the most influential of the [[w:classical economics|classical economists]], along with [[w:Thomas Malthus|Thomas Malthus]], [[w:Adam Smith|Adam Smith]], and [[w:John Stuart Mill|John Stuart Mill]]... ( Wikipedia ) | ||
* '''[[w:International trade|International trade]]''' is the exchange of [[w:Capital (economics)|capital]], [[w:good (economics)|goods]], and [[w:Service (economics)|services]] across [[w:international borders|international borders]] or territories ( Wikipedia ) | * '''[[w:International trade|International trade]]''' is the exchange of [[w:Capital (economics)|capital]], [[w:good (economics)|goods]], and [[w:Service (economics)|services]] across [[w:international borders|international borders]] or territories ( Wikipedia ) | ||
* '''[[w:History of international trade]]''' | ** '''[[w:History of international trade|History of international trade]]''' | ||
* '''[[w:Income distribution|Income distribution]]''' is how a nation’s total [[w:GDP|GDP]] is distributed amongst its population. Income and distribution has always been a central concern of economic theory and economic policy. Classical economists such as [[w:Adam Smith|Adam Smith]], [[w:Thomas Malthus|Thomas Malthus]] and [[w:David Ricardo|David Ricardo]] were mainly concerned with [[w:factor income distribution|factor income distribution]], that is, the [[w:Distribution (economics)|distribution]] of [[w:income|income]] between the main [[w:factors of production|factors of production]], land, [[w:Labour economics|labour]] and [[w:Capital (economics)|capital]]. ( Wikipedia ) | * '''[[w:Income distribution|Income distribution]]''' is how a nation’s total [[w:GDP|GDP]] is distributed amongst its population. Income and distribution has always been a central concern of economic theory and economic policy. Classical economists such as [[w:Adam Smith|Adam Smith]], [[w:Thomas Malthus|Thomas Malthus]] and [[w:David Ricardo|David Ricardo]] were mainly concerned with [[w:factor income distribution|factor income distribution]], that is, the [[w:Distribution (economics)|distribution]] of [[w:income|income]] between the main [[w:factors of production|factors of production]], land, [[w:Labour economics|labour]] and [[w:Capital (economics)|capital]]. ( Wikipedia ) | ||