The Total Gross Domestic Product (GDP) is determined by a simple equation:
(crop sales + main industry) = Total GDP
So what does this mean?
It means that the Total GDP of your island is determined by adding together your Net Value of Crops per Annum (the total dollar amount that your island earns for selling its agriculture, locally or internationally) PLUS the Net Value of your Main Industry per Annum (the total dollar amount that your island earns for selling its main industry)
For example:
If my Island of Clarkeville’s Net Value of Crops per Annum is $12,345,345
and the Net Value of my Main industry per Annum is $23,112,345
then:
$12,345,345 + $23,112,345 = $35,457,690
So the Total Gross Domestic Product of Clarkeville is $35,457,690
(just shy of $35.5 million dollars)
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Gross Domestic Product (GDP) per Capita is the total goods and services in one year divided by the population in that same year.
Ultimately the GDP per Capita gives a rough estiamte of how the nations wealth would look if spread equally amongst its citizens
The equation is as follows:
Total GDP / Population of the same year = GDP per Capita
For Example: We return to Clarkeville again:
The Total GDP of Clarkeville is $35,457,690
The Total population of Clarkeville is 1,406,258
$35,457,690 / 1,406,258 = 25.2142138
The Gross Domestic Product per Capita in Clarkeville is $25.21
So what does this mean?
This means that in Clarkeville if the yearly weath was divided amongst its citizens they would each recieve $25.21
Is this good?
Check out how this compares to other places in the world by folowing the link below and respond in the comments section below:http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita
Tags: Education, Geography, Humanities 8, Island Project, Project based learning