--%>
Assignment Help - homework help

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 : Market Apparent program For the

    For the question below, utilize the given information. The market for gizmos is competitive, with an increasing sloping supply curve and a downward sloping demand curve. With no govt. intervention, the equilibrium price is $25 and the equilibrium quantity is 10,000 gi

    		•
  • Q : Technological advances in producing

    When given resources can now produce additional goods than was previously probable, then there have been a: (1) Stock market boom. (2) Competitive spurt which shrinks entrepreneurial gain. (3) Concavity reversal in the production possibilities frontier. (4) Bigger rel

    		•
  • Q : Introduction of the term capital

    Give brief introduction of the term capital structure? And also write down its principles?

    		•
  • Q : Activities of speculators in long turn

    The activities of speculators tend to, in the long run: (w) decrease the volatility of prices. (x) attract legal attention resulting in imprisonment. (y) increase the level and volatility of prices. (z) yield tremendous profits and raise costs to cons

    		•
  • Q : Argument by Adam Smith for a true

    Within the Wealth of Nations, argument by Adam Smith such that a nation’s true wealth is its capability to: (1) obtain stocks of financial capital. (2) inspire its people’s courage and diligence. (c) give

    		•
  • Q : Assertion to increase in the minimum

    Use the circular flow model to confirm this assertion for a $1 per hour increase in the minimum wage?

    		•
  • Q : Describe cost of equity shares Briefly

    Briefly describe cost of equity shares? And also write down way to evaluate the cost of equity shares?

    		•
  • Q : Illustrate a fundamental characteristic

    Illustrate a fundamental characteristic of demand behavior?

    		•
  • Q : Describe two kinds of efficiency Full

    Describe two kinds of efficiency Full production imply?

    		•
  • Q : Describe Low financial leverage and low

    Describe briefly Low financial leverage, low operating leverage?

    		•