There are a number of ways to measure economic activity of a nation. These methods of measuring economic activity include:
• Consumer spending
• Exchange Rate
• Gross domestic product
• GDP per capital
• GNP
• Stock Market
• Interest Rate
• National Debt
• Rate of Inflation
• Unemployment
• Balance of Trade

The fiscal deficit can be assessed using three gauges: (1) the type of deficit to be measured within a public sector coverage; (2) the coverage or size of the public sector and its composition; and (3) the relevant time horizon. The standard definition of the fiscal deficit is the so-called conventional deficit, which measures the difference between total government outlays and receipts, excluding changes in debt. When measured on a pure cash basis, the conventional deficit corresponds to the "public sector net borrowing requirement."

An economy consists of the economic system of a country or other area, the labor, capital and land resources, and the economic agents that socially participate in the production, exchange, distribution, and consumption of goods and services of that area. A given economy is the end result of a process that involves its technological evolution, history and social organization, as well as its geography, natural resource endowment, and ecology, as main factors. These factors give context, content, and set the conditions and parameters in which an economy functions.

Economic measures- There are a number of ways to measure economic activity of a nation. These methods of measuring economic activity include:

* Consumer spending
* Exchange Rate
* Gross domestic product
* GDP per ca-pita
* GNP
* Stock Market
* Interest Rate
* National Debt
* Rate of Inflation
* Unemployment
* Balance of Trade

The GDP - Gross domestic product of a country is a measure of the size of its economy. The most conventional economic analysis of a country relies heavily on economic indicators like the GDP and GDP per ca-pita. While often useful, it should be noted that GDP only includes economic activity for which money is exchanged.

The capabilities in all forms of technology is now making it possihle to effect the whole economy, the environment and social structures much faster, wider and deeper than ever before. We therefore cant sustain the GDP approach as it is only a measure of money.

We have to measure the environment and the social impacts too as we need these to survive and these are not quantified in monetary terms. The environment is measured in monetoary terms by how we use/destroy it, not how we prtoect it - economics is about business and nothing else. We cant keep valuing money over and above human relationships and our environment - its just not sustainable and this creates social division and violence.

If China and India follow the narrow GDP measures, the consumerism and resource consumption by those countries in comparison with the US will be like comparing the size of our sun with the planet earth.

So bottom line is we need to use GPI as a measure if we are to sustain ourselves past the 21st century. Our planet can survive and go on and prosper very well without humans, but humans cannot prosper without the planet and without collective positive human relationships.

With all our new technology we just cant seem to learn from past major mistakes that matter most. Technology has potential to cause sudden irreversable change to humanity and the planet this century and climate change is only one aspect to this - we cannot afford to keep taking a reactive approach to our refusal to learn from past major destructive mistakes, as next time, to react, will will be too late - permanently.

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GDP (Gross domestic product) is one of the ways of measuring the size of the country’s economy. It is defined as the total market value of all final goods and services produced within a country in a given period of time.
GDP = C + I + G + (X-M)
C is private consumption in the economy. This includes most personal expenditures of house holds such as food, rent, medical expenses…
I is defined as investments by business or households in capital. Examples of investment by a business include construction of a new mine, purchase of software or purchase of house etc.
G is the sum of government expenditures on final goods and services. It includes salaries of public servants, purchase of weapons for the military and any investment expenditure by a government
X is gross exports
M is gross imports
Just keep this in mind -- a positive growth rate of GDP implies that the economy is expanding, while a negative growth rate of GDP implies that the economy is contracting

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One is through nominal Gross Domestic Product (GDP). The Economics Glossary defines GDP as:
GDP is Gross domestic product. For a region, the GDP is "the market value of all the goods and services producted by labor and property located in" the region, usually a country. It equals GNP minus the net inflow of labor and property incomes from abroad.
A key example helps. A Japanese-owned automobile factory in the US counts in US GDP but in Japanese GNP.
The nominal indicates that the GDP is converted into a base currency (typically the U.S. Dollar or Euros) at market exchange rates. So you calculate the value of everything produced in that country at the prices prevailing in that country, then you convert that into U.S. Dollars at market exchange rates.

Hi

You really doing great job. Thanks for sharing this nice information.
I appreciate your post. Please keep sharing more and more information...

Thanks

Hi

There are a number of ways to measure economic activity of a nation. These methods of measuring economic activity include:
• Consumer spending
• Exchange Rate
• Gross domestic product
• GDP per capital
• GNP
• Stock Market
• Interest Rate
• National Debt
• Rate of Inflation
• Unemployment
• Balance of Trade

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