--%>

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 : Explain and give an illustration

    Explain and give an illustration of (a) the fallacy of composition; and (b) the “after this, therefore because of this” fallacy.  Why are cause-and-effect relationships difficult to isolate in the social sciences?

  • Q : Larger amount is actually purchased at

    Critically evaluate:  “In comparing the two equilibrium positions, it note that a larger amount is actually purchased at a higher price. This disprove the law of demand.”

  • Q : Elucidate redistribution of income

    Elucidate redistribution of income?

  • Q : Economics as a science Economics as a

    Economics as a science:We no longer ask the problem whether economics is an art or a science. Science is a systematized body of knowledge. Merely as physics and chemistry are sciences, econo

  • Q : Write short note Economics Write short

    Write short note Economics?

  • Q : Subjective aspects of pricing- economic

    Adam Smith must have emphasized more strongly how his Wealth of Nations drew concepts and inspiration by Richard Cantillon’s Essai. Now today’s perspective that the Wealth of Nations would considered even

  • Q : Best alternatives while choices are made

    Opportunity costs, which are the values of the: (i) monetary costs of goods and services. (ii) best alternatives sacrificed while choices are made. (iii) minimal budgets of families upon welfare. (iv) hidden charges passed upon to consumers. (v) exorb

  • Q : Strategic behaviour of decisionmaker If

    If one decisionmaker in interdependent circumstances calibrates its decisions to the anticipated reactions of the other party, in that case the decisionmaker is engaged within: (1) psychological forecasting. (2) profit maximization. (3) collusion. (4) strategic behavi

  • Q : Concepts of Economic system argues by

    For Economic system argues by Adam Smith relies heavily upon all the given concepts EXCEPT: (w) market expansion will be facilitated through capital accumulation. (x) prices will be driven to the lowest point at that production can ev

  • Q : Expansion of preschool programs for

    Use the circular flow model to confirm this assertion for an expansion of preschool programs for disadvantaged children?