Market value in the context of "Economic surplus"

Gross domestic product (GDP) is a monetary measure of the total market value of all the final goods and services produced and rendered in a specific time period by a country or countries. GDP is often used to measure the economic activity of a country or region. The major components of GDP are consumption, government spending, net exports (exports minus imports), and investment. Changing any of these factors can increase the size of the economy. For example, population growth through mass immigration can raise consumption and demand for public services, thereby contributing to GDP growth. However, GDP is not a measure of overall standard of living or well-being, as it does not account for how income is distributed among the population. A country may rank high in GDP but still experience jobless growth depending on its planned economic structure and strategies. Dividing total GDP by the population gives an idealized rough measure of GDP per capita. Several national and international economic organizations, such as the OECD and the International Monetary Fund, maintain their own definitions of GDP.

GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It serves as a statistical indicator of national development and progress. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market using current exchange rate. To compare economies over time inflation can be adjusted by comparing real instead of nominal values. For cross-country comparisons, GDP figures are often adjusted for differences in the cost of living using purchasing power parity (PPP). GDP per capita at purchasing power parity can be useful for comparing living standards between nations.

Agricultural productivity is measured as the ratio of agricultural outputs to inputs. While individual products are usually measured by weight, which is known as crop yield, varying products make measuring overall agricultural output difficult. Therefore, agricultural productivity is usually measured as the market value of the final output. This productivity can be compared to many different types of inputs such as labour or land. Such comparisons are called partial measures of productivity.

Agricultural productivity may also be measured by what is termed total factor productivity (TFP). This method of calculating agricultural productivity compares an index of agricultural inputs to an index of outputs. This measure of agricultural productivity was established to remedy the shortcomings of the partial measures of productivity; notably that it is often hard to identify the factors cause them to change. Changes in TFP are usually attributed to technological improvements.

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency. Such fluctuations may change a country's ranking from one year to the next, even though they often make little or no difference in the standard of living of its population.

Comparisons of national wealth are also frequently made based on purchasing power parity (PPP), to adjust for differences in the cost of living in different countries. Other metrics, nominal GDP per capita and a corresponding GDP (PPP) per capita, are used for comparing national standard of living. On the whole, PPP per capita figures are less spread than nominal GDP per capita figures.

In mainstream economics, economic surplus, also known as total welfare or total social welfare or Marshallian surplus (after Alfred Marshall), is either of two related quantities:

• Consumer surplus, or consumers' surplus, is the monetary gain obtained by consumers because they are able to purchase a product for a price that is less than the highest price that they would be willing to pay.
• Producer surplus, or producers' surplus, is the amount that producers benefit by selling at a market price that is higher than the least that they would be willing to sell for; this is roughly equal to profit (since producers are not normally willing to sell at a loss and are normally indifferent to selling at a break-even price).

The sum of consumer and producer surplus is sometimes known as social surplus or total surplus; a decrease in that total from inefficiencies is called deadweight loss.

This is a list of ASEAN country subdivisions by GDP are based on official exchange rates market exchange rates (Nominal) and Purchasing Power Parity (PPP) methodology. These figures have been taken from using data from Indonesian provinces, Malaysia states, Philippine, Thai, and Vietnam regions. GDP and GDP per capita data are according to International Monetary Fund's October 2023 estimates. Badan Pusat Statistik Indonesia, Department of Statistics Malaysia, Philippine Statistics Authority, NESDC Thailand, GSO Vietnam. The figures are given or expressed in Millions of current market and International Dollars at current prices.

Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. Nominal GDP does not take into account differences in the cost of living in different countries, and the results can vary greatly from one year to another based on fluctuations in the exchange rates of the country's currency.

Gross domestic product (GDP) is a monetary measure of the total market value of all of the final goods and services which are produced and rendered during a specific period of time period by a country or countries. GDP is often used to measure the economic activity of a country or region. The major components of GDP are consumption, government spending, net exports (exports minus imports), and investment. Changing any of these factors can increase the size of the economy. For example, population growth through mass immigration can raise consumption and demand for public services, thereby contributing to GDP growth. However, GDP is not a measure of overall standard of living or well-being, as it does not account for how income is distributed among the population. A country may rank high in GDP but still experience jobless growth depending on its planned economic structure and strategies. Dividing total GDP by the population gives an idealized rough measure of GDP per capita. Several national and international economic organizations, such as the OECD and the International Monetary Fund, maintain their own definitions of GDP.

GDP is often used as a metric for international comparisons as well as a broad measure of economic progress. It serves as a statistical indicator of national development and progress. Total GDP can also be broken down into the contribution of each industry or sector of the economy. Nominal GDP is useful when comparing national economies on the international market using current exchange rate. To compare economies over time inflation can be adjusted by comparing real instead of nominal values. For cross-country comparisons, GDP figures are often adjusted for differences in the cost of living using purchasing power parity (PPP). GDP per capita at purchasing power parity can be useful for comparing living standards between nations.

Gross metropolitan product (GMP) is a monetary measure that calculates the total economic output of a statistical metropolitan unit during a specific time period. It represents the market value of all final goods and services produced within the unit, similar to how GDP measures national economic output.