Question Tag: Economic measurement

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  • 5 Marks

BMIS – Nov 2023 – L1 – Q2b – The external environment

Describe two of the three approaches (expenditure, income, value-added) used by economists to measure a country's Gross Domestic Product (GDP).

In measuring a country’s Gross Domestic Product (GDP), economists use the expenditure approach, income approach and the value-added approach.

Required: Describe TWO (2) of these approaches. (5 marks)

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  • 5 Marks

BMIS – Nov 2023 – L1 – Q2b – The external environment

Describe two of the three approaches (expenditure, income, value-added) used by economists to measure a country's Gross Domestic Product (GDP).

In measuring a country’s Gross Domestic Product (GDP), economists use the expenditure approach, income approach and the value-added approach.

Required: Describe TWO (2) of these approaches. (5 marks)

Login or create a free account to see answers

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Find Related Questions by Tags, levels, etc.

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