Answer:
Larger than
Explanation:
The b2b market which is the business to business market is larger than the consumer market in terms of number and dollar volume of transactions. This is majorly due to the fact that business to business transactions entails wholesaling transactions, while consumer markets entails retailing transactions. Thus, in b2b, the amount of goods bought by a business is usually larger than what is being bought by an individual in the consumer markets. The transactions in b2b markets are much more bigger than the transactions in consumer markets in terms of monetary value.
Answer: Real GDP = 5.2182% = 5.22%
Explanation:
Real GDP calculates the increase in goods and services holding the impact of prices constant. Real GDP adjusts the impact of inflation of Prices in order to calculates the change in Goods and services over a given period. Since GDP is also referred to as National Income we can say Real GDP measures the increase in National Income excluding the impact of inflation.
Real GDP Per Capita than Takes into account the number of people in the Economy (Population). Real GDP per capita is calculated by Dividing Real GDP by the number of people in the country or by a county's population.This tells us that Real GDP per Capita measures the amount of National Income (excluding the Impact of inflation) per person.
We also can define Real GDP Per capita as the average number of Goods and services each person in the economy would receive if all goods and services produced in the economy were distributed to each and every person in the country.
A country has a 2.34% population growth and targets a Real GDP per Capita of 2.23% per year.
We know That Real GDP per Capita is calculated by Dividing Real GDP by number or people in the country (Population). Therefore we have the following equation; Real GDP /Population = Real GDP per Capita
Real GDP/2.34% = 2.23%
by cross multiplying this equation we get
Real GDP = 2.34% x 2.23%
Real GDP = 5.2182% = 5.22% (rounded off to two decimals)
Real GDP would need to grow by 5.22% in order to achieve a target or Real GDP per capita growth of 2.23% per year
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