How can a country with a GDP per capita of $100 to $500

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How can a country with a GDP (nominal, not PPP) per capita of $100 to $500 be a potential market for consumer goods? What kinds of goods would probably be in demand? Discuss.

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Explanation & Answer

Attached.

Running head: GDP PER CAPITA

1

GDP per Capita
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Professor
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GDP PER CAPITA

2
Gross Domestic Product

The Gross Domestic Product (GDP) of any country divided by the size of its population
results to the GDP per Capita of that particular country in one year (McBride, n.d). Nominal GDP
is the sum of all goods and services produced within the country’s borders by either locals or
foreigners per year. Nominal GDP is not adjusted to the rate of inflation; hence, it uses the final
prices of goods and services in its calculation (McBride, n.d). In this case, countries measure their
economic wealth utilizing the size of their GDP. GDP per capita id best used to measure the
economic prosperity of a country by indicating the standards of living of the people living in that
country (McBride, n.d). States with higher GDP per Cap...


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