Global Economics, WGU C211|Latest Update Graded A+
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Course
WGU C211 – Global Economics for Managers
Institution
WGU C211 – Global Economics For Managers
Global Economics, WGU C211|Latest Update Graded A+
Base of they Pyramid
The bottom of the economic pyramid.
The vast majority of humanity, about four billion people, lives at the base of this pyramid making less than $2,000 a year.
Emerging Economies
Developing countries that over the pa...
Global Economics, WGU C211|Latest Update Graded A+
Base of they Pyramid
The bottom of the economic pyramid.
The vast majority of humanity, about four billion people, lives at the base of this pyramid making less
than $2,000 a year.
Emerging Economies
Developing countries that over the past two or three decades have begun to develop a strong
industrial base, such as Singapore and Hong Kong.
Also called emerging markets
They account for about half of the worlds GDP
Gross Domestic Product (GDP)
The sum of value added by resident firms, households, and governments operating in an economy.
Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a
country during a specific period.
However, the earnings of non-resident sources that are sent back to Mexico (such as earnings of
Mexicans who do not live and work in Mexico, and dividends received by Mexicans who own non-
Mexican stocks) are not included in Mexico's GDP.
Gross National Product (GNP)
It comprises GDP plus income from non-resident sources abroad.
Purchasing Power Parity (PPP)
The amount of money needed in one country to purchase the same goods and services in another
country
It is an adjustment made to the GDP to reflect differences in the cost of living.
BRIC
Brazil, Russia, India, China
BRICS
Brazil, Russia, India, China, South Africa
As a group, BRICS countries have 40% of the world's population, cover a quarter of the world's land
area, and contribute more than 25% of global GDP
The Great Transformation
The transformation of the global economy that is embodied by the tremendous shift in economic
growth toward emerging economies in general and BRIC(S) in particular
Global economy as a pyramid
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