Gross Value Added
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Gross Value Added
In economics Economics () is a social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interact ..., gross value added (GVA) is the measure of the value of goods In economics Economics () is a social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany Botany, also called , plant biology or phytology, is the science of plant ... and services Service may refer to: Activities :''(See the Religion section for religious activities)'' * Administrative service, a required part of the workload of Faculty (academic staff), university faculty * Civil service, the body of employees of a governm ... produced in an area, industry or sector of an economy An economy (; ) is an area of the production Production may be: Economics and business ...
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Economics
Economics () is a social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interactions of Agent (economics), economic agents and how economy, economies work. Within mainstream economics, microeconomics is a field which analyzes what's viewed as basic elements in the economy, including individual agents and market (economics), markets, their interactions, and the outcomes of interactions. Individual agents may include, for example, households, firms, buyers, and sellers. Macroeconomics analyzes the economy as a system where production, consumption, saving, and investment interact, and factors affecting it: employment of the resources of labour, capital, and land, currency inflation, economic growth, and public policies that have impact on glossary of economics, these elements. Other broad distinctions within economics in ...
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Goods
In economics Economics () is a social science Social science is the branch A branch ( or , ) or tree branch (sometimes referred to in botany Botany, also called , plant biology or phytology, is the science of plant life and a bran ..., goods are items that satisfy human want The idea of want can be examined from many perspectives. In secular societies want might be considered similar to the emotion desire Desire is the emotion Emotions are biological states associated with all of the nerve systems brought on by ...s and provide utility As a topic of economics Economics () is a social science Social science is the Branches of science, branch of science devoted to the study of society, societies and the Social relation, relationships among individuals within thos ..., for example, to a consumer A consumer is a person or a group who intends to order, orders, or uses purchased goods, products, or services Service may refe ...
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Service (economics)
A service is a transaction in which no physical goods In economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods ... are transferred from the seller to the buyer. The benefits of such a service are held to be demonstrated by the buyer's willingness Volition or will is the cognitive process Cognition () refers to "the mental action or process of acquiring knowledge and understanding through thought, experience, and the senses". It encompasses many aspects of intellectual functions and pro ... to make the exchange. Public service A public service is a service Service may refer to: Activities :''(See the Religion section for religious activities)'' * Administrative service, a required part of the workload of university faculty * Civil service The civil service is a col ...s are tho ...
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Economy
An economy (; ) is an area of the production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products (goods and services) * Production as a statistic, g ..., distributionDistribution may refer to: Mathematics *Distribution (mathematics) Distributions, also known as Schwartz distributions or generalized functions, are objects that generalize the classical notion of functions in mathematical analysis. Distr ... and trade Trade involves the transfer of goods from one person or entity to another, often in exchange for money. Economists refer to a system A system is a group of Interaction, interacting or interrelated elements that act according to a set of r ..., as well as consumption Consumption may refer to: *Resource consumption *Tuberculosis, an infectious disease, historically in biology: * Consumption (ecology), r ...
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Gross Domestic Product
Gross domestic product (GDP) is a monetary Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the left corner, 174x174px Money is any item or verif ... measure of the market value of all the final good A final good or consumer good is a final product In Production (economics), production, a final product, or finished product is a product (business), product that is ready for sale.Wouters, Mark; Selto, Frank H.; Hilton, Ronald W.; Maher, Micha ...s and services produced in a specific time period. GDP (nominal) per capita does not, however, reflect differences in the cost of living Protests in Aysén due to the high cost of living in Patagonia Cost of living is the cost In production, research Research is "creativity, creative and systematic work undertaken to increase the stock of knowledge". It involves the ... ...
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Office For National Statistics
The Office for National Statistics (ONS; cy, Swyddfa Ystadegau Gwladol) is the executive office of the UK Statistics Authority cy, Y Bwrdd Ystadegau , seal = , logo = UK Statistics Authority logo.svg , formed = , jurisdiction = United Kingdom , headquarters = 1 Drummond Gate London London is the capital city, capital and List of urban areas in the United Kingd ..., a non-ministerial department Non-ministerial government departments (NMGDs) are a type of department of the Government of the United Kingdom that deal with matters for which direct political oversight has been judged unnecessary or inappropriate. They are headed by senior ci ... which reports directly to the UK Parliament The Parliament of the United Kingdom is the Parliamentary sovereignty in the United Kingdom, supreme Legislature, legislative body of the United Kingdom, the Crown dependencies and the British overseas territories. It alone possesses Parliamen .... Overview The ONS is respon ...
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Value Added
In business, total value added is calculated by tabulating the unit value added (measured by summing unit profit Profit may refer to: Business and law * Profit (accounting) Profit, in accounting Accounting or Accountancy is the measurement, processing, and communication of financial and non financial information about economic entity, economic en ... sale price and production cost">Price.html" ;"title="he difference between Price">sale price and production cost], unit depreciation cost, and unit Direct labor cost, labor cost) per each unit of product sold. Thus, total value added is equivalent to revenue minus intermediate consumption. Value added is a higher portion of revenue for integrated companies (e.g. manufacturing companies) and a lower portion of revenue for less integrated companies (e.g. retail companies); total value added is very closely approximated by compensation of employees{{no footnotes, date=April 2010 Compensation of employees (CE) is a statisti ...
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Gross Regional Domestic Product
Gross regional domestic product (GRDP), gross domestic product of region (GDPR), or gross state product (GSP) is a statistic that measures the size of a region In geography, regions are areas that are broadly divided by physical characteristics (physical geography), human impact characteristics (human geography), and the interaction of humanity and the environment (environmental geography). Geographic re ...'s economy An economy (; ) is an area of the production Production may be: Economics and business * Production (economics) * Production, the act of manufacturing goods * Production, in the outline of industrial organization, the act of making products ( .... It is the aggregate of gross value added In economics Economics () is the social science that studies how people interact with value; in particular, the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods an ... (GVA) of all resident pr ...
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OECD
The Organisation for Economic Co-operation and Development (OECD; french: Organisation de Coopération et de Développement Économiques, OCDE) is an intergovernmental economic organisation with 38 member countries, founded in 1961 to stimulate economic progress and world trade. It is a forum of countries describing themselves as committed to democracy Democracy ( gr, δημοκρατία, ''dēmokratiā'', from ''dēmos'' 'people' and ''kratos'' 'rule') is a form of government A government is the system or group of people governing an organized community, generally a State (polit ... and the market economy A market economy is an economic system An economic system, or economic order, is a system of Production (economics), production, allocation of resources, resource allocation and Distribution (economics), distribution of goods and services wit ..., providing a platform to compare policy experiences, seek answers to common problems, identify good p ...
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Net Income
In business Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit." Having a business name A trad ... and accounting Accounting or Accountancy is the measurement ' Measurement is the number, numerical quantification (science), quantification of the variable and attribute (research), attributes of an object or event, which can be used to compare with other ob ..., net income (also total comprehensive income, net earnings, net profit, bottom line, sales profit, or credit sales) is an entity's income In microeconomics, income is the Consumption (economics), consumption and saving opportunity gained by an entity within a specified timeframe, which is generally expressed in monetary terms.Smith's financial dictionary. Smith, Howard Irving. 190 ... minus cost of goods sold Cost of goods sold (COGS) is the carrying ...
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Gross Profit
For households and individuals, gross income is the sum of all wages A wage is the distribution from an employer Employment is the relationship between two party (law), parties, usually based on a employment contract, contract where work is paid for, where one party, which may be a corporation, for profi ..., salaries A salary is a form of payment from an employer to an employee, which may be specified in an employment contract. It is contrasted with piece wage A wage is the distribution from an employer Employment is a relationship between two parties ..., profits, interest payments, rents, and other forms of earnings, before any deductions or taxes. It is opposed to net income In business Business is the activity of making one's living or making money by producing or buying and selling products (such as goods and services). Simply put, it is "any activity or enterprise entered into for profit." Having a busin ..., defined as the gross income mi ...
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Measures Of National Income And Output
A variety of measures of national income and output are used in economics Economics () is a social science that studies the Production (economics), production, distribution (economics), distribution, and Consumption (economics), consumption of goods and services. Economics focuses on the behaviour and interact ... to estimate total economic activity in a country or region, including gross domestic product Gross domestic product (GDP) is a monetary Image:National-Debt-Gillray.jpeg, In a 1786 James Gillray caricature, the plentiful money bags handed to King George III are contrasted with the beggar whose legs and arms were amputated, in the ... (GDP), gross national product The Gross National Income (GNI), previously known as Gross National Product (GNP), is the total domestic and foreign output claimed by residents of a country, consisting of Gross Domestic Product ( GDP), plus factor incomes earned by foreign ... (GNP), net national incomeIn national i ...
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