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Purchasing Power Parity
Purchasing power parity (PPP) is a measure of the price of specific goods in different countries and is used to compare the absolute purchasing power of the countries' currency, currencies. PPP is effectively the ratio of the price of a market basket at one location divided by the price of the basket of goods at a different location. The PPP inflation and exchange rate may differ from the Exchange rate, market exchange rate because of tariffs, and other transaction costs. The purchasing power parity indicator can be used to compare economies regarding their gross domestic product (GDP), labour productivity and actual individual consumption, and in some cases to analyse price convergence and to compare the cost of living between places. The calculation of the PPP, according to the OECD, is made through a ''basket of goods'' that contains a "final product list [that] covers around 3,000 consumer goods and services, 30 occupations in government, 200 types of equipment goods and about ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Purchasing Power
Purchasing power refers to the amount of products and services available for purchase with a certain currency unit. For example, if you took one unit of cash to a store in the 1950s, you could buy more products than you could now, showing that the currency had more purchasing power back then. If one's income remains constant but prices rise, their purchasing power decreases. Inflation does not always result in decreased purchasing power, especially if income exceeds price levels. A larger real income means more purchasing power, as it corresponds to the income itself. Traditionally, the purchasing power of money depended heavily upon the local value of gold and silver, but was also made subject to the availability and demand of certain goods on the market. Most modern fiat currencies, like US dollars, are traded against each other and commodity money in the secondary market for the purpose of international Balance transfer, transfer of payment for goods and services. Scottish ec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Exchange Rate
In finance, an exchange rate is the rate at which one currency will be exchanged for another currency. Currencies are most commonly national currencies, but may be sub-national as in the case of Hong Kong or supra-national as in the case of the euro. The exchange rate is also regarded as the value of one country's currency in relation to another currency. For example, an Interbank lending market, interbank exchange rate of 141 Japanese yen to the United States dollar means that ¥141 will be exchanged for or that will be exchanged for ¥141. In this case it is said that the price of a dollar in relation to yen is ¥141, or equivalently that the price of a yen in relation to dollars is $1/141. Each country determines the exchange rate regime that will apply to its currency. For example, a currency may be floating exchange rate, floating, fixed exchange rate, pegged (fixed), or a hybrid. Governments can impose certain limits and controls on exchange rates. Countries can als ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Quality (business)
In business, engineering, and manufacturing, quality – or high quality – has a pragmatic interpretation as the non-inferiority or wikt:superiority, superiority of something (goods or service (economics), services); it is also defined as being suitable for the intended purpose (fitness for purpose) while satisfying customer expectations. Quality is a perceptual, conditional, and somewhat subjectivity, subjective attribute and may be understood differently by different people. Consumers may focus on the Acceptance testing, specification quality of a product/service, or how it compares to competitors in the marketplace. Producers might measure the Conformance testing, conformance quality, or degree to which the product/service was produced correctly. Support personnel may measure quality in the degree that a product is wikt:reliable, reliable, Maintainability, maintainable, or sustainability, sustainable. In such ways, the subjectivity of quality is rendered objectivity (philosoph ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Costing
Cost accounting is defined by the Institute of Management Accountants as "a systematic set of procedures for recording and reporting measurements of the cost of manufacturing goods and performing services in the aggregate and in detail. It includes methods for recognizing, allocating, aggregating and reporting such costs and comparing them with standard costs". Often considered a subset or quantitative tool of managerial accounting, its end goal is to advise the management on how to optimize business practices and processes based on cost efficiency and capability. Cost accounting provides the detailed cost information that management needs to control current operations and plan for the future. Cost accounting information is also commonly used in financial accounting, but its primary function is for use by managers to facilitate their decision-making. Origins of cost accounting All types of businesses, whether manufacturing, trading or producing services, require cost accountin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Gross Domestic Product
Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic performance of a country or region. Several national and international economic organizations maintain definitions of GDP, such as the OECD and the International Monetary Fund. GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It is often considered to be the world's most powerful statistical indicator of national development and progress. The GDP can be divided by the total population to obtain the average GDP per capita. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market according to the exchange rate. To compare economies over time inflation can be adjus ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Geometric Mean
In mathematics, the geometric mean is a mean or average which indicates a central tendency of a finite collection of positive real numbers by using the product of their values (as opposed to the arithmetic mean which uses their sum). The geometric mean of numbers is the Nth root, th root of their product (mathematics), product, i.e., for a collection of numbers , the geometric mean is defined as : \sqrt[n]. When the collection of numbers and their geometric mean are plotted in logarithmic scale, the geometric mean is transformed into an arithmetic mean, so the geometric mean can equivalently be calculated by taking the natural logarithm of each number, finding the arithmetic mean of the logarithms, and then returning the result to linear scale using the exponential function , :\sqrt[n] = \exp \left( \frac \right). The geometric mean of two numbers is the square root of their product, for example with numbers and the geometric mean is \textstyle \sqrt = The geometric mean o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Developed Nations
A developed country, or advanced country, is a sovereign state that has a high quality of life, developed economy, and advanced technological infrastructure relative to other less industrialized nations. Most commonly, the criteria for evaluating the degree of economic development are the gross domestic product (GDP), gross national product (GNP), the per capita income, level of industrialization, amount of widespread infrastructure and general standard of living. Which criteria are to be used and which countries can be classified as being developed are subjects of debate. Different definitions of developed countries are provided by the Developed country#IMF advanced economies, International Monetary Fund and the Developed country#High-income economies, World Bank; moreover, Developed country#Human Development Index (HDI), HDI ranking is used to reflect the composite index of life expectancy, education, and income per capita. Developed country#Comparative table (2025), In 2025 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Denmark
Denmark is a Nordic countries, Nordic country in Northern Europe. It is the metropole and most populous constituent of the Kingdom of Denmark,, . also known as the Danish Realm, a constitutionally unitary state that includes the Autonomous administrative division, autonomous territories of the Faroe Islands and Greenland in the north Atlantic Ocean.* * * Metropolitan Denmark, also called "continental Denmark" or "Denmark proper", consists of the northern Jutland peninsula and an archipelago of 406 islands. It is the southernmost of the Scandinavian countries, lying southwest of Sweden, south of Norway, and north of Germany, with which it shares a short border. Denmark proper is situated between the North Sea to the west and the Baltic Sea to the east.The island of Bornholm is offset to the east of the rest of the country, in the Baltic Sea. The Kingdom of Denmark, including the Faroe Islands and Greenland, has roughly List of islands of Denmark, 1,400 islands greater than in ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Future GDP (PPP) Per Capita Estimates
This is an alphabetical list of countries by past and projected Gross Domestic Product per capita, based on the Purchasing Power Parity (PPP) methodology, not on official exchange rates. Values are given in International Dollars. These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database, April 2025 edition. IMF estimates between 1980 and 1989 IMF estimates between 1990 and 1999 IMF estimates between 2000 and 2009 IMF estimates between 2010 and 2019 IMF projections for 2020 through 2029 IMF projections for 2030 The following list contains the various countries' projected GDP (nominal) from 2030. See also *List of countries by GDP (PPP) per capita A country's gross domestic product (GDP) at purchasing power parity (PPP) per capita is the PPP value of all final goods and services produced within an economy in a given year, divided by the average (or mid-year) population for the same year ... * List of coun ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By Past And Future GDP (nominal)
This is an alphabetical list of countries by past and projected gross domestic product (nominal) as ranked by the IMF. Figures are based on official exchange rates, not on the purchasing power parity (PPP) methodology. Values are given in millions of United States dollars (USD) and have not been adjusted for inflation. These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (April 2025 edition) and/or other sources. For older GDP trends, see List of regions by past GDP (PPP). UN estimates between 1970 and 1979 The following Table is based on UN GDP data. * indicates "GDP of [country or territory]" or "Economy of [country or territory]" links. IMF estimates between 1980 and 1989 IMF estimates between 1990 and 1999 IMF estimates between 2000 and 2009 IMF estimates between 2010 and 2019 IMF estimates and projections for 2020 through 2029 The following list contains the various countries' projected GDP (nomin ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
India
India, officially the Republic of India, is a country in South Asia. It is the List of countries and dependencies by area, seventh-largest country by area; the List of countries by population (United Nations), most populous country since 2023; and, since its independence in 1947, the world's most populous democracy. Bounded by the Indian Ocean on the south, the Arabian Sea on the southwest, and the Bay of Bengal on the southeast, it shares land borders with Pakistan to the west; China, Nepal, and Bhutan to the north; and Bangladesh and Myanmar to the east. In the Indian Ocean, India is near Sri Lanka and the Maldives; its Andaman and Nicobar Islands share a maritime border with Thailand, Myanmar, and Indonesia. Modern humans arrived on the Indian subcontinent from Africa no later than 55,000 years ago., "Y-Chromosome and Mt-DNA data support the colonization of South Asia by modern humans originating in Africa. ... Coalescence dates for most non-European populations averag ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
List Of Countries By GDP (nominal) Per Capita
This is a list of countries by nominal GDP per capita. GDP per capita is the total value of a country's finished goods and services (gross domestic product) divided by its total population (per capita). Gross domestic product (GDP) per capita is often considered an indicator of a country's standard of living; however, this is inaccurate because GDP per capita is not a measure of personal income. Measures of personal income include average wage, real income, median income, disposable income and GNI per capita. Comparisons of GDP per capita are also frequently made on the basis of purchasing power parity (PPP), to adjust for differences in the cost of living in different countries, ''see'' List of countries by GDP (PPP) per capita. PPP largely removes the exchange rate problem but not others; it does not reflect the value of economic output in international trade, and it also requires more estimation than GDP per capita. On the whole, PPP per capita figures are more narrowly ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
