False . cutting costs & boosting productivity are strategies for achieving competitive advantage.
Competitive advantage.
A competitive advantage can come from the user experience, which is a better, more reasonably priced, or more enjoyable product, or it can come from another tangible or intangible asset, like the intellectual property or the customer service staff.
A business' ability to compete sets it apart from one that is successful, but the source can vary from industry to industry and company to company.
Common instances of competitive advantage include:
the groupspecial access to technology or production techniquesA unique item that is only available from you (protected by IP law or patents, etc.)ability to produce and sell for less money (known as cost leadership)Name recognition and standingLearn more about competitive advantage.
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a company borrowed $180,000 at an interest rate of 9% compounded annually over six years. the loan will be repaid in installments at the end of each year according to the accompanying repayment schedule. what will be the size of the last payment (x) that will pay off the loan?
x = $289,872.15 will pay off the loan according to the accompanying repayment schedule.
1. Calculate the total amount of interest that will be paid over the six years: Interest = Principal x Interest Rate x Time = $180,000 x 0.09 x 6 = $97,200
2. Calculate the total amount to be repaid: Total = Principal + Interest = $180,000 + $97,200 = $277,200
3. Calculate the amount of each payment: Payment Amount = Total / Number of Payments = $277,200 / 6 = $46,200
4. Calculate the total amount of payments made before the last payment:
Total Payments Made = (Number of Payments - 1) x Payment Amount = (6 - 1) x $46,200 = $275,800
5. Calculate the size of the last payment (x):Last Payment = Total - Total Payments Made = $277,200 - $275,800 = $1,400
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the production possibilities frontier model shows that. state of true of false.1. true 2. false
Answer:
True. Points on the PPF display every possible pairing of two items that could be created if the economy were to function at its maximum capacity.
Explanation:
in an economy with constant velocity, a real gross domestic product growth rate of 2 percent, an ex ante real interest rate of 3 percent, and a money supply that is expected to grow at 7 percent, the nominal interest rate would be percent.
The nominal interest rate would be 12%. Nominal interest rate is the percentage rate of interest that is quoted on a loan or deposit, without adjusting for inflation.
Nominal interest rate is the interest rate as it is stated, without any adjustment for the effect of inflation on the purchasing power of the money that will be received. It is the rate of interest that borrowers pay on loans and the rate of interest that depositors receive on savings and other deposit accounts.
To determine the nominal interest rate you can use this formula:
Nominal interest rate = Real GDP growth rate + Ex ante real interest rate + Expected growth rate of money supply
In this case:
Nominal interest rate = 2 percent + 3 percent + 7 percent
Nominal interest rate = 12%
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differences between departmental stores and chain stores
Answer:
Chain stores and department stores are two distinct ideas. Department stores have a long history of providing a wide range of products for retail sale, whereas chain shops are retail establishments with the same name and management in numerous locations. Contrary to popular belief, not all department shops are part of a chain. There are numerous chains that aren't thought of as department stores, including eateries and speciality shops. One of the most well-known chained department shops is Macy's, located on Herald Square in New York City.
A department store is often a sizable retail space that provides a wide range of products divided into distinct sections. Retail establishments that are part of a chain share a brand and centralised management. They frequently include standardised corporate procedures.
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a small business spent a large amount of time determining its brand image and how it would deliver its message to its customers. these are elements of
A small business spent time determining its brand image and how it would deliver its message to its customers. these are elements of marketing
Marketing entails developing, delivering, and communicating products that are valuable to clients. Marketing refers to the actions a business does to increase sales of its goods or services through promotion. A small business is taking crucial efforts to build its identity and convey its value to potential customers when it invests a lot of time in figuring out its brand image and how it will deliver its message to customers. This indicates that it is making use of a marketing strategy of branding and advertising.
The branding and advertising portions of marketing include crucial components like choosing a brand image and figuring out how to communicate with clients. Advertising is the process of conveying that image and message through multiple channels such as social media, television, radio, print media, and more. Branding then develops a distinctive identity and image for a business or product.
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Identify one business and describe the Target market to determine the important factors in an industry analysis in the said business as to:
Business: McDonald's
Target Market: McDonald's targets a broad range of consumers, including families, young professionals, and students. The fast-food chain targets those who are looking for a convenient, quick and inexpensive meal.
Important Factors in Industry Analysis:
1. Competitor Analysis: It is important for McDonald's to stay aware of their competitors. This includes understanding their competitors' pricing, menu offerings, customer service, and marketing strategies.
2. Market Trends: McDonald's must be aware of current trends in the fast food industry, such as health-consciousness, vegan and vegetarian options, and convenience.
3. Consumer Demographics: McDonald's needs to understand the demographics of their target market, such as age, income, gender, and location.
4. Supply Chain: McDonald's must ensure that they have a reliable and efficient supply chain in place to meet consumer demand.
5. Product Innovation: McDonald's must remain innovative and offer new products that appeal to their target market.
6. Advertising and Promotion: McDonald's needs to have an effective advertising and promotional strategy to reach their target market and increase market share.
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when adam smith's ten pin workers specialized, they were able to increase output of pins in a day from 200 to 48,000. one reason for the increase in pin output was due to
Adam Smith's 10 pin workers were able to raise daily production of pins from 200 to 48,000 when they became more specialised. The growth in pin output can be attributed, in part, to the workers' increasing mastery of their individual tasks.
A worker is a person engaged in productive activities that support the flow of commodities and services through the economy. In other words, a worker is seen as an economic actor who boosts the GDP in a given year by contributing to the creation of products and services. Anyone who works is potentially a worker. The phrase frequently, but not always, refers to a worker in an industrial or manual vocation. In contrast, there are situations when we use the word in the same sense as "employee," as in the sentence "Apple Inc. has more than 123,000 workers." The phrase may also be used to describe someone from the working class.
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An item on sale costs 40% of the original price. If the original price was $95 , what is the sale price?
ITS 7TH GRADE BTW!
Answer:
Explanation:
If it's 40% OFF, then it would cost 57
but if it's 40% OF the original cost it would be $38
Which of these correctly defines a role of investments?
a. Investments address the timing of cash flows most desired by investors.
b. Accounting records past activities of a firm while finance helps with decisions regarding the firm's future.
c. A financial institution facilitates cash flows between investors and companies.
d. The value of a financial asset is determined by the asset's expected future cash flows.
Investments address the timing of the cash flows that investors value the most. appropriately describes an investment's function.
What part does the balance play in the company's investment?The company's net value, whether it has enough cash and short-term assets to pay its obligations, and whether it is heavily indebted in comparison to its competitors are all problems that the balance sheet may help with.
On what foundation are investments recorded in accounting?A reference to the investment's market value, the investee's assets and performance, and the anticipated cash flows from the investment will yield indicators of the worth of the investment. Another factor considered is the kind and size of the investor's stake in the investee.
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as you worked on finalizing your project plan, what methods did you use to optimize the plan for time and cost?
Finding the project length that results in the lowest total cost achievable is the aim of time cost optimization.
What is an optimize?to achieve the highest degree of efficiency, perfection, or utility. best effort possible Computers. the act of writing or rewriting (programmed instructions) to increase retrieval, storage, or execution efficiency and speed.Making the best use of something is what the word "optimize" refers to. Cleaning and organizing your closets and drawers will help you store the most items possible in them if you want to maximize your home's storage space.The term "optimize" refers to the arrangement or design of a plan, system, or machine in order to maximize its effectiveness. Gaining the most advantage or profit from a situation or opportunity is known as optimizing it.To learn more about optimize refer to:
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chemco inc. expends funds and takes steps to ensure that all employees are treated fairly, and that they are acting ethically and are accountable to society. this is the concept of:
When profit maximization is the goal, a company does not benefit from ethical behavior. Under the "stakeholder view" no group ever has a greater stake in company decisions ..
Utilitarianism is an ethical theory that determines right from wrong by focusing on outcomes. It is a form of consequentialism. Utilitarianism holds that the most ethical choice is the one that will produce the greatest good for the greatest number. congress does not pass laws based on ethics. It can be difficult to predict with certainty how a court will apply a given law to a particular action. The term moral minimum is best defined as the highest degree of ethical behavior expected of a firm. In one sense, the answer is clearly "yes." there are plenty of examples of businesses and their employees who make good decisions that also turn out to be profitable. Yet we know that doing what's ethically right does not always contribute to short-term profits.
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cragmont has beginning equity of $282,000, net income of $68,000, withdrawals of $30,000 and no additional investments by owners during the period. its ending equity is:
Its equity at the end is $315,000. Simply adding income and subtracting withdrawals is all that is required here.
What does equity entail?The distinction between equality and "equity" can be found in the following: Equity, on the other hand, entails acknowledging and correcting imbalances because we do not all come from the same starting point. While equality entails providing equal opportunities to all, equity does not.
What does equity in finance mean?Equity is the amount that would be paid to the owner of an asset after it was sold and all debts associated with it were paid off. With a mortgage of $50,000 and a home worth $200,000, for instance, the equity in the home would be worth $150,000.
Ending Equity ($277,000 minus 0 and $63,000 minus $25,000) = $315,000.
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2. suppose that toyota sells yen-denominated bonds in new york. what type of debt instrument would that be?
No, if sold in Tokyo, it wouldn't be regarded as a Eurobond. It would be regarded as a Eurobond if sold in New York.
They'd be regarded as Eurobonds. In order to construct a railroad network in the nineteenth century, the US economy borrowed extensively from the British. They'd be regarded as Eurobonds. In order to construct a railroad network in the nineteenth century, the US economy borrowed extensively from the British. A new kind of bond on the global financial market is the eurobond. It is the kind of bond that is valued in a different currency than the one of the nation in which it is purchased. For instance, a bond sold in the US and denominated in British pounds qualifies as a Eurobond.
This Yen-denominated bond is being offered in Japan, and as the Yen is also the currency of Japan, it is not a Eurobond. Since the US currency is not the yen, if the identical bond is sold in a US market like New York, it will be regarded as a europound.
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Economists assume people choose something when its expected costs are less than its ______.
Economists assume that people choose something when the costs are less than its benefits.
What is the cost-benefit principle?According to economists, people typically choose a product when its expected costs are lower than its anticipated benefits. The cost-benefit principle applies in this situation. Assuming that people are rational and act in their own best interests, the cost-benefit principle is based on this idea. The choice that provides the greatest benefit at the lowest cost will be chosen after the pros and cons of each option have been considered.
Say someone is debating whether to purchase a new car as an example. They will weigh the benefits (such as convenience, comfort, and ease of use) and costs (such as purchase price, insurance, maintenance, etc.) of the car to determine which option provides the most benefit for the least expense.
Economic theory's cornerstone, the cost-benefit ratio, is used to evaluate and contrast various options. For any given situation, economists use the cost-benefit principle to determine the best course of action. Economists can decide which option is the most effective and advantageous for an individual by understanding the expected costs and benefits of a particular option.
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why might it be better to keep your emergency fund money in a separate account?
Keeping your emergency fund money in a separate account can be beneficial for a few reasons: a.Accessibility b.Protection
Accessibility: Having your emergency fund in a separate account can make it more easily accessible in case of an emergency. Having it in a separate account ensures that you won't have to go through the process of transferring money from other accounts, which could take time.Avoid spending: Keeping your emergency fund in a separate account can help prevent you from spending it on non-emergency expenses. When it's in a separate account, it's less likely to be used for impulse purchases or other non-essential expenses.Protection: Keeping your emergency fund in a separate account can also help protect it from market fluctuations. If your emergency fund is in a savings or money market account, it will be less likely to lose value during market downturns.Improving financial discipline: By having a specific account for emergency funds, it makes it easier to track and monitor the funds, and it can help to improve financial discipline.Overall, having a separate account for your emergency fund can help you feel more secure, financially prepared and it can make it easier to save and access money when unexpected events occur.
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as she received her performance review, jenna was surprised by several criticisms that she felt were inaccurate. how should she react to the criticism? a. jenna should blame others in the department for any negative comments. b. jenna should interrupt her supervisor frequently to comment on the suggestions being made and defend her position at every opportunity. c. jenna should ask for clarification of the comments when necessary. d. jenna should agree with all the comments being made in order to avoid any type of conflict or confrontation with her supervisor.
D) Jenna ought to concur with all of the remarks in order to steer clear of any kind of argument or confrontation with her superior.
In electronic communication, why shouldn't underlined words be used?Although these characteristics can be utilized to emphasize a point, too much of a good thing quickly becomes bad. It's possible that an email with a lot of bold, italic, and underlined text will come across as rude or even aggressive. It is merely confusing and disorienting.
In communication, what are the three types of messages?Keep in mind that you will be communicating three distinct types of messages when thinking about how to use verbal communication effectively: (Hasling, 1998), primary, secondary, and auxiliary.
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if a landowner discovers someone has planted marijuana on his property, but believes the crop could become lucrative should marijuana become legal in the near future, could he preemptively stop the marijuana growers from filing for adverse possession on that future date?
If a landowner discovers someone has planted marijuana on his property, he preemptively stop the marijuana growers from filing, he is the owner would be obligated to report the growers to the authorities and have the crop destroyed.
The landowner which is meant of an individual or entity having legal ownership of the land. The terms landowner may also include all forms of collective ownership including joint tenants, tenants in common, and life tenants.
The landowner discovers someone has the planted marijuana on his property, but believes the crop could become lucrative should marijuana become legal in the near future.
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used bonds to issue new mortgages to families currently in default and to prevent foreclosure. True or false
The assertion is correct in light of how the question addresses using bonds to grant new mortgages to households already in arrears and avert foreclosure.
What does the term "mortgage" mean exactly?a formal commitment to borrow from a bank or any other financial institution, notably to fund the purchase of a home or other properties, or the sum borrowed: Obtain a mortgage by asking for one. You obtain a mortgage with a term deposit on your house.
In India, what is a mortgage?A mortgage is a lien holder that enables you to access funds by providing the lender security in the form of an immobile asset, such a commercial or residential property. Until you pay back the loan, the borrower retains the asset.
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A nurse is preparing to administer bisacodyl suppsitory to a client. Which of the following actions should the nurse take? Select all that apply.
A) position client supine with knees bent
B) Lubricate index finger
C) Insert suppository just beyond internal sphincter
D) Use rectal applicator for insertion
E) Don sterile gloves
Use your index finger to lubricate the suppository's rounded end.
Nurse carefully retracts buttocks and passes into anus through the internal sphincter to place suppository slightly beyond it.
What is Bisacodyl suppsitory ?Bisacodyl is a well-known laxative stimulant. By facilitating bowel movement so you may poop more easily, it reduces constipation. It also makes your poop softer. The effects of bisacodyl pills last 6 to 12 hours. It's important to be near to a restroom after using suppositories because they take 10 to 45 minutes to take effect.
Many users of this medicine report no significant negative effects. If you have any severe side effects, such as persistent diarrhea or rectal bleeding/blisters, call your doctor straight once. Dehydration may arise from persistent diarrhea.
Rectal mucosal irritation, a burning feeling, and mild proctitis may result after the use of bisacodyl (the active component in Dulcolax) suspensions or suppositories.
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define the set in words. choose the correct answer below. a. the set of cars that have 3 or more years warranty or do not have a good safety rating. b. the set of cars that have 3 or more years warranty and do not have a good safety rating. c. the set of cars that have 3 or more years warranty and have a good safety rating. d. the set of cars that have 3 or more years warranty or have a good safety rating.
If the car cannot be fixed after a reasonable number of attempts, the customer must be given the option of a replacement or a refund.
What different sorts of replacement are there?
replacement of things that lose their value over time. 3. Replacement of products that become out of date as a result of new advancements. 2. Replacement of objects that entirely break down.
What does the word "replacement" signify in a sentence
An act of substituting for something that is missing is known as a replacement. Your substitute teacher is a bothersome replacement for your missing teacher.
All actions and procedures required to replace any existing Project Facilities component with a new one that serves the same purpose
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Judy Flint owns and operates Derby Advertising Services. On January 1, 2018, Judy Flint, Capital had a balance of $154,150. During the year, Judy invested an additional $7,700 and withdrew $54,000. For the year ended December 31, 2018, Derby Advertising Services reported a net income of $42,700. Prepare a statement of owner's equity for the year ended December 31, 2018. Use the minus sign to indicate negative values
A statement of owner's equity for the year ended with $49750.
How do you create an owner's equity statement?The general accounting equation may be written as follows: Opening equity balance + net income/capital contributions - net loss/withdrawals = ending equity balance. The exact calculations, however, will depend on your firm and may be more or less complicated.Owner's equity is calculated as follows: Assets minus Liabilities equals Owner's Equity. A balance sheet may be used to calculate assets, liabilities, and then owner's equity.Owner's equity may be calculated as the sum of the owner's initial investment in the company less any withdrawals made by the owner. Consider this: If a construction project is worthCapital had a balance of $154,150.
$ 7,700, 42,700, $54,000 and the loan balance is,
$154,150 - ($ 7,700 + 42,700 + $54,000) = 49750.
A statement of owner's equity for the year ended with 49750.
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as the spouse of the founder of stonyfield farm, meg cadoux hirshberg serves the family business in a typical but critical role of
Supporting Greg through the many hours the business requires.
What is the purpose of Greg Abbott?Gregory Wayne Abbott (born November 13, 1957) is a Texas politician, attorney, and former judge who has served as the state’s 48th governor since 2015. He was the Republican Party’s 50th Attorney General of Texas from 2002 to 2015, as well as a member of the Texas Supreme Court from 1996 to 2001.
Greg Abbott is the 48th and current governor ®. On January 20, 2015, he took over for Rick Perry ®. Perry served as the state’s governor for the longest time, from 2000 to 2015. Abbott previously served as Texas Attorney General from 2002 until 2015.
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strategic management adheres to the perspective that what might be seemingly ideal for one functional area of an organization might not be in the best interest of the total organization. this perspective is known as
Strategic management adheres to the perspective that what might be seemingly ideal for one functional area of an organization might not be in the best interest of the total organization. this perspective is known as a "holistic" approach to management.
This approach requires managers to consider the impact of their decisions on the entire organization before they make them, instead of just focusing on the immediate impact on a single department or function. this approach promotes cooperation and collaboration among all of the different departments and functions within the organization, allowing them to work together to achieve the best possible outcome.
Hence correct answer is holistic approach.
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which type of distribution is used when the prodcuer wants more than one but fewer than all of the intermediaries who are willing to carry its products
B) Selective distribution is used when the producer wants more than one but fewer than all of the intermediaries who are willing to carry its products.
Selective distribution is a marketing approach that focuses on distributing specific products through a specific network of retailers, resellers, or wholesalers. Distributors use this method as a bridge between intensive and exclusive distribution.
Selective distribution is a system and strategy that allows a corporation to sell its goods through a limited number of intermediaries. Different block exemption and competition rules govern these types of vertical agreements between businesses to guarantee that no one company has an unfair advantage over another.
Consider a huge food chain that sells franchise stores to individual owners who meet particular criteria established by the main business. Consider an e-commerce behemoth that permits a select number of vendors to sell on their platform.
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Correct question:
Which type of distribution is used when the producer wants more than one, but fewer than all, of the intermediaries who are willing to carry its products?
A) exclusive
B) selective
C) intensive
D) dual
E) multichannel
supply curves have a positive slope because of the: a. law of supply. b. law of equilibrium. c. theory of comparative advantage. d. demand curve.
The correct answer is a. Law of Supply.Supply curves have a positive slope because of the law of supply.
The law of supply states that, as the price of a good or service increases, the quantity supplied by producers also increases. This is why supply curves have positive slopes.
A basic tenet of economic theory is the rule of supply, which asserts that an increase in price will result in an increase in the quantity supplied, all other things being equal. In other words, there is a direct correlation between price and quantity, and quantities react to price changes in the same way.
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the study of business law does not involve an ethical dimension. T/F
False, there is no ethical component to the study of business law.
What exactly does business law mean?Business law, often known as commercial law or mercantile law, is the body of regulations controlling inter-person interactions in commercial concerns, whether established by convention, agreement, national or international legislation.
What are the several categories of business law?Business law, usually referred to as commercial law or corporation law, is the body of legislation that controls the rights, interactions, and conduct of organizations and people involved in trade, sales, and other forms of commerce. It is frequently regarded as a subset of civil law because it deals with both private and public law issues.
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Ungroup the workheet. Ue the quarter name in cell F5 of the Annual Sale workheet to fill the range G5:I5 with the name of the remaining quarter in the year.
1. Right click on the tab name of the Annual Sale worksheet, then select Ungroup Sheets.
2. Select cell F5 of the Annual Sale worksheet.
3. Type in the name of the first quarter of the year.
4. Select cells G5:I5
5. Type in the remaining quarters of the year, one in each cell.
What is meant by Annual Sale worksheet?An Annual Sale worksheet is a type of spreadsheet used to keep track of a company's sales over the course of an entire year. This worksheet typically includes columns for each month, as well as a total column that adds up all the monthly sales. This worksheet is important for businesses to track their progress over time and gain insight into their sales trends. It also allows them to compare their performance from one year to the next. By looking at the total sales for the year, a business can decide if they need to adjust their strategies in order to increase their sales. Additionally, the worksheet helps businesses generate a forecast for the upcoming year, helping them make more informed decisions. In short, an Annual Sale worksheet is an essential tool for any business that wants to stay on top of their sales and gain insight into their performance.To learn more about Annual Sale worksheet refer to:
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true or false: an increasing number of people use word processing software on their various devices, which causes a rightward shift of the demand curve.
True, the demand curve is shifting to the right each year as more individuals use word processing software on their various gadgets.
A demand curve in economics is a graph showing the relationship between the cost of a specific good (the y-axis) and the amount of that good that is desired at that cost (the x-axis). Demand curves can be applied to the price-quantity relationship for a single consumer (a single demand curve) or for all consumers in a specific market (a market demand curve). Demand curves are commonly believed to slope downward, as the following graphic illustrates. Due to the rule of demand, which states that when prices increase, fewer people would buy the majority of the commodities being sold. This law is not applicable in several peculiar circumstances. A few of these are Veblen products.
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assume that there are 6 routes from dallas to new york, 4 routes from new york to seattle, and 5 from seattle to atlanta. in how many ways can merchandise be shipped from dallas to atlanta using these routes?
There are 6 routes connecting Dallas with New York, 4 routes connecting New York with Seattle, and 5 routes connecting Seattle with Atlanta. As a result, there are 12 times 6 paths overall, or 72.
What do you meant by shipping ?There are 2 ways to go to Orlando on each of the 6 routes that connect Denver with Dallas. As a result, there are 12 alternative ways to get from Denver to Orlando. There are six possibilities for each of these 12 routes from Orlando to LA. The total number of routes is therefore 12 times 6, or 72. the activity of sending or moving things.
Transporting freight or items commercially, particularly on ships, is known as shipping. Shipping is the desire for two or more fictional characters or celebrities to have a love relationship. It is the actual physical transportation of things from one location to another, such as when transporting goods from a warehouse to a consumer.
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The total number of ways to ship merchandise from Dallas to Atlanta: 6 * 4 * 5 = 120 ways.
How many ways can merchandise be shipped from Dallas to Atlanta using these routes?In order to calculate the number of ways merchandise can be shipped from Dallas to Atlanta using the routes given, we can use the formula for combination: (n! / (r! * (n-r)!)).First, we need to find the total number of routes from Dallas to New York, New York to Seattle, and Seattle to Atlanta. This is 6 routes + 4 routes + 5 routes = 15 routes.Next, we need to find the number of ways to select the routes from Dallas to New York, New York to Seattle, and Seattle to Atlanta. Since order does not matter, we can use the combination formula.For Dallas to New York, we have 6 routes to choose from and need to select 1. So, the number of ways to select this route is (6! / (1! * (6-1)!) = 6.For New York to Seattle, we have 4 routes to choose from and need to select 1. So, the number of ways to select this route is (4! / (1! * (4-1)!) = 4.For Seattle to Atlanta, we have 5 routes to choose from and need to select 1. So, the number of ways to select this route is (5! / (1! * (5-1)!) = 5.Finally, we multiply the number of ways to select each route to find the total number of ways to ship merchandise from Dallas to Atlanta: 6 * 4 * 5 = 120 ways.In summary:6 routes available from Dallas to New York.4 routes available from New York to Seattle5 routes available from Seattle to Atlanta.Using combination formula (nCr) we can find the total number of ways to ship merchandise from Dallas to Atlanta is 120 ways.To learn more about merchandise refer:
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suppose france's real gdp grew from $750 billion in 2008 to $821 billion in 2009. what was the growth rate of france's real gdp?
The growth rate of France's real GDP is 9.5%.
What exactly is GDP?Gross domestic product (GDP) is a measure of the monetary worth of all final products and services produced and sold (not resold) by countries within a certain time period. Because of its complexity and subjectivity, this metric is frequently changed before being regarded as a credible indication. GDP per capita, on the other hand, does not account for differences in the cost of living and inflation rates among countries; thus, using GDP per capita at purchasing power parity (PPP) may be more useful when comparing living standards among nations, whereas nominal GDP is more useful when comparing national economies on the international market. The contribution of each industry or sector of the economy to the total GDP may also be broken down.
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