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How Unilever’s Brands Connect with Consumers

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GDP is used to measure the wealth and prosperity of nations in addition to that it measure the overall growth or decline of a nation's economy. The most common way to measure GDP is the expenditure approach. GDP in expenditure approach is the sum of the following elements: Total domestic consumption:This is the total amount spent on domestically produced services and final goods whether it was tangible such as food and clothing or intangible such as doctor fees and cleaning.

Total domestic investment expenditures:This measurement includes investments in stocks and bonds in addition to the investments in equipment such as computer servers and commercial buildings that will be useful over a long period of time. Government expenditures:such as military salaries and building roads, however it does not include social security payments and welfare. Net exports: where it is the total of goods produced domestically and sold to foreigners minus goods produced by foreigners and sold domestically.
Regarding to above, using GDP as a measure of a nation's economy is quite good because it measures the nation buying power over a given time period. Moreover, GDP can be used as an indicator of a nation's overall standard of living where nation's standard of living increases as GDP increases.
However, there are a number of shortcomings to using GDP. Firstly,GDP is computed at market prices which means that it ignores externalities such as environmental issues. Secondly, GDP doesn't count unpaid volunteer work. Actually, the non paid work can lower GDP because the money that was saved from volunteers could have gone to other employed people if the volunteers didn’t do it. Thirdly GDP does not include the household work by which it could make the welfare comparisons both across both time and countries very difficult . Fourthly, Disasters

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