--%>

Gross domestic product

Question

Would "Victory Points" be a measure of player's "GDP"? If not, then how would you calculate a player's GDP?

Answer

Gross domestic product or GDP in short, is a measure of value added of a region, state or country.  VPs are basically a reflection of the state of development of a player's region. Now, this is a bit different from GDP. GDP is a mean and not an end. GDP is the reflection of the amount of productive activities taking place which endows one with resources required for development. For example, if the GDP of country A increases, then it has enough money to develop the country by buying resources from other countries or by spending available resources(money) to obtain required resources(say roads).VPs, which show the value of development in the game, are certainly not the measure of GDP.

Looking at the game, we see that it is the resource cards which enable the player to develop the region. Now this can be done directly or by buying resources from bank or by getting involved in trade with other players. Therefore, resource cards are indicators of the buying capacity or endowment of a country which can be used to induce development. The more resource cards a player has, the better position he is in to push towards the goal of getting more VPs. Therefore, resource cards indicative of GDP of the player.

 

   Related Questions in Business Economics

  • Q : Single seller not sell at a price lower

    An individual seller within perfect competition will not sell at a price lower than the market price since: w) demand for the product will exceed supply.  x) the seller would begin a price war. y) the seller can sell any quantity she desires at the prevailing mar

  • Q : Increase the overall effectiveness of

    How the government can increase the overall effectiveness of the market system?

  • Q : Labour economic Can someone help me in

    Can someone help me in finding out the right answer from the given options. The Taft Hartley Act of 1946 made it illegal to encompass a: (1) Right-to-work law passed by the state legislature. (2) Conviction for the misdemeanor and serve as union officer. (3) Union for the agricultural migrants or go

  • Q : Growth is a significant economic goal.

    Growth is a significant economic goal. Explain?

  • Q : Cchange in demand and a change in the

    Distinguish between a change in demand and a change in the quantity demanded?

  • Q : Write short note on Demand Write short

    Write short note on Demand?

  • Q : Describe unanticipated inflation

    Describe unanticipated inflation?

  • Q : Determine the productively efficiency

    To be productively efficient, a country should: (w) maximize the satisfaction attainable from its budget. (x) be concerned only with macroeconomic analysis. (y) concentrate on removing scarcity. (z) maximize the value of output produced through specif

  • Q : Describe the term cost of capital

    Briefly describe the term cost of capital and also illustrate out its significance?

  • Q : Problem on current production

    I have a problem in economics on current production possibilities frontier. Please help me in the following question. The combination of 70 units of clothing and 30 units of food are: (1) Completely employs the economy's capacity. (2) Would leave most