The value of all the goods and services produced by a company in a single year.

The value of the GDP divided by the population of the country. This is also referred to as the nominal per capita GDP.

The value of the GDP adjusted for the purchasing power; helps managers understand how much income local residents have.

Purchasing Power Parity

An economic theory that adjusts the exchange rate between countries to ensure that a good is purchased for the same price in the same currency.

A summary composite index that measures a country’s average achievements in three basic aspects of human development: health, knowledge, and a decent standard of living.

Measures achievement in the same basic capabilities as the HDI does, but takes note of inequality in achievement between women and men. This methodology used imposes a penalty for inequality, such that the GSI falls when the achievement levels of both women and men in a country go down or when the disparity between their achievements increases. The greater the gender disparity is in basic capabilities, the lower a country's GDI compared with its HDI.

is a measure of agency. It evaluates progress in advancing women's standing in political and economic forums. It examines the extent to which women and men are able to actively participate in economic and political life and take part in decision making.

A composite index that uses indicators of the most basic dimensions of deprivation: a short life (i.e., longevity), lack of basic education (knowledge), and lack of access to public and private resources (decent standard of living)

Also known as advanced economies, these countries are characterized as postindustrial with high per capita incomes, competitive industries, transparent legal and regulatory environments, and well-developed commercial infrastructures.

A market in which prices rise for a prolonged period of time

A market in which prices steadily drop in a downward cycle.

Countries that rank lower on various classifications including GDP and the HDI. These countries tend to have economies focused on one or more key industries and tend to have poor commercial infrastructure. The local business environment tends not to be transparent, and there is usually a weak copetitive industry.

The benefit that a company gains by entering into a market first or introducing a new product or service before its competitors.

An evolving definition that is currently viewed as a country that can be defined as a society transitioning from a centrally managed economy to a free market-oriented-economy,with increasing economic freedom; gradual integration within the global marketplace; an expanding middle class; and improving standards of living, social stability, and tolerance; as well as an increase in cooperation with multilateral institutions.

refers to the act of stripping a currency unit - either coins or banknotes - of its status as legal tender.

People who have acquired substantial wealth in one generation (i.e., new money)

A person or organization that sells products and services that are sourced from other countries

An official policy of racial segregation that was practiced in South Africa with social, economic, and political discrimination against anyone who was not white.