{"id":62,"date":"2018-01-06T13:30:57","date_gmt":"2018-01-06T18:30:57","guid":{"rendered":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/?post_type=chapter&p=62"},"modified":"2018-01-06T13:31:02","modified_gmt":"2018-01-06T18:31:02","slug":"key-terms-7","status":"publish","type":"chapter","link":"https:\/\/pressbooks.bccampus.ca\/geographyofbc\/chapter\/key-terms-7\/","title":{"raw":"Key Terms","rendered":"Key Terms"},"content":{"raw":"\n
\n

Key  Terms<\/h3>\n

Gross domestic product<\/strong> (GDP): An estimate of the total value of all materials, foodstuffs, goods and services that a country produces in one year. As GDP is a measure of commodities, the figure for each country is divided by the total population of the country in order to get the per capita.<\/em><\/p>\n

Gross national income<\/strong> (GNI):<\/strong> A measure of the income that flows into a country from production no matter where in the world companies from that country may be operating.<\/p>\n

Organisation for Economic Co-operation and Development (OECD): <\/strong><\/strong>An international economic organization with the mission to promote policies that will improve the economic and social well-being of people around the world.<\/p>\n

Purchasing power parity<\/strong> (PPP):<\/strong> A tool that calculates how much the local currency of a country can buy locally (i.e., what you can buy with CAD 20 Canada compared with its equivalent in Colombia.<\/p>\n

Quality of life (QOL): <\/strong>A measure of the general well-being of individuals and societies, using the indicators of income, wealth, employment, the built environment, physical and mental health, education, social belonging and leisure time. QOL is used as a measurement in many fields including international development, healthcare, politics and employment.<\/p>\n<\/div>\n

 <\/p>\n\n","rendered":"

\n

Key  Terms<\/h3>\n

Gross domestic product<\/strong> (GDP): An estimate of the total value of all materials, foodstuffs, goods and services that a country produces in one year. As GDP is a measure of commodities, the figure for each country is divided by the total population of the country in order to get the per capita.<\/em><\/p>\n

Gross national income<\/strong> (GNI):<\/strong> A measure of the income that flows into a country from production no matter where in the world companies from that country may be operating.<\/p>\n

Organisation for Economic Co-operation and Development (OECD): <\/strong><\/strong>An international economic organization with the mission to promote policies that will improve the economic and social well-being of people around the world.<\/p>\n

Purchasing power parity<\/strong> (PPP):<\/strong> A tool that calculates how much the local currency of a country can buy locally (i.e., what you can buy with CAD 20 Canada compared with its equivalent in Colombia.<\/p>\n

Quality of life (QOL): <\/strong>A measure of the general well-being of individuals and societies, using the indicators of income, wealth, employment, the built environment, physical and mental health, education, social belonging and leisure time. QOL is used as a measurement in many fields including international development, healthcare, politics and employment.<\/p>\n<\/div>\n

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