Economic Concepts and Terms
Explore key economic concepts such as GDP, GNP, inflation, unemployment, and more in this collection of informative images. Learn about budgeting, balance of payments, and the significance of the current account deficit. Enhance your knowledge of economic terms and policies.
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Presentation Transcript
BISP Enquiries 4/13/2025 1
Civil Services Preparatory School 4/13/2025 2
Budget A government budget is a document prepared by the government or other political entity presenting its anticipated revenues and proposed spending for the coming financial year. Balanced Surplus Deficit 4/13/2025 3
Balance of Payment The balance of payments (BOP) is a statement of all transactions made between entities in one country and the rest of the world over a defined period of time, such as a quarter or a year 4/13/2025 4
Capital Account The capital account, in international macroeconomics, is the part of the balance of payments which records all transactions made between entities in one country with entities in the rest of the world. ... In accounting, the capital account shows the net worth of a business at a specific point in time. 4/13/2025 5
Current Account The current account deficit is a measurement of a country's trade where the value of the goods and services it imports exceeds the value of the products it exports. ... The current account represents a country's foreign transactions and, like the capital account, is a component of a country's balance of payments (BOP). 4/13/2025 6
GDP Gross Domestic Product (GDP) is the monetary value of all finished goods and services made within a country period. GDP provides an economic snapshot of a country, used to estimate the size of an economy and growth rate. GDP can be calculated in three ways, using expenditures, production, or incomes. during a specific 4/13/2025 7
GNP Gross national product (GNP) is an estimate of total value of all the final products and services turned out in a given period by the means of production owned by a country's residents 4/13/2025 8
Economic Terms Inflation Unemployment Labor Force / participation Rate Monetary Policy Exchange Rate Tax to GDP Ratio 4/13/2025 9
THANKS Thank You 4/13/2025 10
