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22-10-2020
Geography

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Reflect upon how an economy is measured then explain important aspects that are not addressed in the statistics.

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bratislava bratislava

24-10-2020

Answer:

GDP, PPP, Income status and standards of living.

Explanation:

The economy of a nation is measured in terms of the Gross Domestic Production and that states the values of all goods and services in the nation in that given year.

Other measures like the PPP and power to purchase that are seen by the income levels, measures like the standards of living and investment along with the expenditures of government.

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