Economic variables include: gross domestic product, consumer price index, producer price index, employment indicators, retail sales and consumer confidence. These variables, also referred to as indicators, provide quantitative data about the state of an economy.
Gross domestic product is often considered the leading indicator of an economy and is a measure of the entirety of goods produced within a nation. The figures for gross domestic product are released quarterly and annually. The consumer price index is one indicator of inflation and measures the rate of increase in the cost of goods and services. Similarly, the producer price index measures the price of wholesale goods.Learn More
According to the World Bank, GDP per capita is equal to the GDP, or gross domestic product, of a country divided by the midyear population of the country. The gross domestic product of a country is the total value added by all the residents in the country in the last period plus any product taxes and minus any subsidies that are not included in the total value of the products.Full Answer >
The limitation of cardinal utility analysis is the difficulty in assigning numerical value to a concept of utility. Utility is comparable on a scale, but not easily quantifiable. In other words, the utility of a good or service cannot simply be measured in numbers in order to determine its economic value.Full Answer >
A logical assumption is an assumption that follows sound logic and supporting evidence. It also acknowledges that variables which may make the assumption false do not exist.Full Answer >
The Securities and Exchange Board of India regulates the securities and investment markets in India. The primary objective of the board is to maintain efficient and stable markets by establishing and enforcing rules and regulations in the marketplace.Full Answer >