May 17, 2017 @ 03:40 PM

May 17, 2017 @ 03:40 PM

K. J. Somaiya Institute of Management Studies and Research, Mumbai

9 Easy Steps to register for SIMSR (Infographic)

Download Now

GDP Measurement of dynamics of a Market

Extempore Speech has also become a tool to test MBA aspirant on assessing overall communication and personality so it is also equally important and crucial component of MBA selection processes. 
 
MBARendezvous.com - India's content lead MBA Website has started series of articles on "Extempore Speech" which will certainly help you to clear MBA admission selection   
 
This article on "GDP- Measurement of dynamics of a Market ” will boost your confidence to be successful in Extempore Speech:
 
The gross domestic product (GDP) is one of the primary indicators used to gauge the health of a country's economy. It represents the total dollar value of all goods and services produced over a specific time period - you can think of it as the size of the economy. Usually, GDP is expressed as a comparison to the previous quarter or year. For example, if the year-to-year GDP is up by 3%, it means that the economy has grown by 3% over the last year.
 
GDP can be determined in three ways, all of which should, in principle, give the same result :
 
They are the product (or output) approach, the income approach, and the expenditure approach
The most direct of the three is the product approach, which sums the outputs of every class of enterprise to arrive at the total. The expenditure approach works on the principle that all of the product must be bought by somebody, therefore the value of the total product must be equal to people's total expenditures in buying things. The income approach works on the principle that the incomes of the productive factors must be equal to the value of their product, and determines GDP by finding the sum of all producers' incomes.
 
Let us understand that, if there are so many complications involved then, why is it so important to calculate GDP? Well, GDP represents economic production & growth and it has a large impact on nearly everyone within that economy. For example, when the economy is healthy, one can clearly see low unemployment and wage’s increment as businesses demand labor to meet the growing economy. A significant change in GDP, whether up or down, usually has a significant effect on the stock market. It's not hard to understand why: a bad economy usually means lower profits for companies, which in turn means lower stock prices. Investors really worry about negative GDP growth, which is one of the factors economists use to determine whether an economy is in a recession.
 
GDP is widely used by economists to gauge economic recession and recovery and an economies general monetary ability address externalities. It is used by the banks to determine interest rates. GDP serves as a general metric for a nominal monetary standard of living. It is a neutral measure which merely shows an economy's general ability to pay for externalities such as social and environmental concerns.
 
India's economy as measured by GDP could not grow more than 7.7 per cent in the first quarter of this fiscal year, mainly due to poor performance of the manufacturing sector. However, economic growth, as measured by the Gross Domestic Product, improved to 8.5 per cent in 2010-11 from 8 per cent in 2009-10 due to better farm output and construction activities and financial services performance. The government has projected overall economic growth in the current fiscal at around 8.5 per cent, while the Reserve Bank has projected the growth to 8 per cent from 8.5 per cent in the fiscal year 2011.
 
According to International Monetary Fund(IMF), World Bank and CIA World Factbook India was on fourth ranking in terms of highest GDP(PPP) with a GDP of around 4,060,392 Million Dollar in the year 2010. Hence, it is very clear that being a major constituent of World economy India’s GDP has a significant impact on World’s GDP.
 
For more articles on Extempore Speech , stay tuned to www.mbarendezvous.com - India's only content lead MBA Portal.

Crucial Dates, You Should not Miss

Manav Rachna International Institute
of Research

Admissions Open for all MBA programme at Manav Rachna International Institute of
Research and Studies.
CII School of Logistics Amity University, Delhi and Mumbai
Admissions Open at CII School of Logistics Delhi and Mumbai campus, Apply Now!
GITAM School of International Business, Visakhapatnam
Admissions open for MBA programmes at GITAM. Application Deadline is February 20, 2018
XIME
Application Last Date for Online Submission - February 25, 2018
TAPMI, Manipal
Last date extended to 11 February, 2018. Apply Now.
BIMTECH, Greater Noida
Admissions open at BIMTECH, Greater Noida
ICFAI Business School
Admissions Open at ICFAI Business School Apply Now!
FORE School of Management
Apply for PGDM & PGDM-IB Programmes. Application Deadline is January 18, 2018.
MDI Murshidabad
Applications for PGPM 2018-20 at MDI Murshidabad are open
NIRMA
Last Date to Apply for MBA (Full Time) Programme at NIRMA is January 29, 2018
Institute of Public Enterprise, Hyderabad
Last Date to Apply for IPE, Hyderabad is 21st January, 2018
IMI New Delhi
Admissions Reopened for PGDM Last Date to Apply January 21, 2018
Application closes on February 12, 2018 for Executive PGDM at IMI
K J Somaiya Institute of Management Studies & Research, Mumbai
Last date for Application is 31st Jan, 2018
SDMIMD Mysore
Application for PGDM 2018-20 at SDMIMD is open till February 28, 2018
img

Admission Open Now

Following Colleges are accepting applications.

INTERNATIONAL MANAGEMENT INSTITUTE

Admissions open for 2018-20

PGDM, PGDM (HRM), PGDM(B & FS), Executive PGDM

Apply Online