Consider an economy that produces only DVDs and DVD players. Last year, 10th DVDs were sold at $20 each and 5 DVD players were s
old at $100 each, while this year 15 DVDs were sold at $10 each and 10 DVD players were sold at $50 each. Real GDP this year using last year as the base year is:A) $100. B) $700.
C) $1,300.
D) $300
Real GDP this year using last year as the base year is
B) $700
Explanation:
Last year, 10th DVDs were sold at $20 each and 5 DVD players were sold at $100 each, while this year 15 DVDs were sold at $10 each and 10 DVD players were sold at $50 each. Real GDP this year using last year as the base year is $700.
Gross Domestic Product (GDP) is the monetary value of all finished goods and services made in a country during a specific period of time.
The Gross Domestic Product calculates the real value of economic activity within a country.
GDP is a number that shows the net worth of the output of a country in local currency.
It represents the value of all goods and services produced in a specific time period within a country's borders.
Gross domestic product (GDP) is the total value of everything produced in a country.
The triple bottom line addresses three factors that a socially responsible company must adhere to. The People / Social factor discusses the importance of the social needs of the customers which the customer must fulfill. The Planet / Environment factors are the factors that discusses about the responsiblity of the company to manufacture environmental friendly products that do not harm the environment and is sustainable. The Profit / Economic factor is one of the three factor which company must try to earn profit to keep the business running and thus benefits by earning profit to a lot of stakeholders.
The quality product is a reason why the customer prefer the company's product which helps the company in making profit. So the profit / economic factor is the right option.
The institutional advertising helps to promote an institutional, organization, business or the industry related advertisement.
The institutional advertisement is also known as corporate advertising that mainly focus on the business ideas and the benefits.
It helps to enhance the reputation of an organization and also try to build a good image in the market. Therefore, Institutional advertising is the correct answer.
