its Gross Domestic Product), together with its income received from other countries less similar payments made to other countries.įor example, if a British-owned company operating in another country sends some of its income (profits) back to UK, the UK’s GNI increases. Gross National Income (GNI): Total value of goods and services produced within a country (i.e. How are countries classified? By using the GNI per capita. The relative importance of each sector can be used to compare the levels of development between countries. Study Figure 1, which shows the Clark-Fisher model.ĭescribe how the importance of each sector changes over time.
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