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  April 22, 2011 Posted by Olivia
  GDP vs GNP If you watch economic news regularly, you must have come across words like GDP and GNP. These are measures of economic activities in any country. GDP stands for Gross Domestic Product and GNP refers to Gross National Product. They both seem to be similar, right? Wrong. Had they been same, they would […]
  Filed Under: Economics Tagged With: economic indicators, examples of calculating GDP, examples of calculating GNP, GDP, GNP, gnp and gdp, Gross Domestic Product, Gross National Product
  CECA vs CEPA CECA and CEPA are pacts between two countries for economic cooperation. While CEPA stands for Comprehensive Economic partnership Agreement, CECA is the short form of Comprehensive Economic Cooperation Agreement. The two terms came in light recently as India signed a CEPA with Japan and CECA with Malaysia. India also has a CEPA […]
  The key difference between import and export is that import refers to buying goods or services from any other country to the home country while export refers to selling goods or services of the home country to another country of the world. Import and export are terms that are commonly heard in international trade and […]
  Absolute vs Comparative Advantage Absolute advantage and Comparative advantage are two words that are often encountered in economics, especially international trade. People are often confused between the differences between the two concepts and look for clarifications. This article tries to make the two concepts clear by highlighting the difference between absolute and comparative advantage. Absolute […]
  Filed Under: Economics Tagged With: Absolute advantage, Absolute advantage in international trade, capital advantage, Comparative advantage, comparative advantage in international trade, labor advantage, mutually beneficial trade
  Positive Economics vs Normative Economics Many of us dread economics as it contains phrases and terminology that look outlandish to most common people. However, economics is an important subject and is meant for the common good of the people, and not just a field of discussion between experts as it has practical applications also. Difference […]
  Filed Under: Economics Tagged With: economic policies, economic terminology, ideal economy, Normative Economics, Positive Economics
  March 19, 2011 Posted by Clarisse
  Economic Growth vs Cultural Growth Economic growth and cultural growth are both needed in order for a country to "grow". A country's progress is not determined by its economic growth alone; it is also determined by its cultural growth. Sometimes people get confused as to how these two differ from each other. Economic Growth Economic […]
  Filed Under: Economics Tagged With: cultural growth, Culture, economic growth, GDP, traditions and practices
  GDP vs GDP per Capita GDP and GDP per Capita are two of the measures that spell the economic state of a country. Gross Domestic Product (GDP) is a criterion of judging the health of the economy of a nation. It represents the total value of goods and services produced over a specific period of time […]
  Filed Under: Economics Tagged With: economy, economy of a nation, Expenditure approach, GDP, GDP (I), GDP per capita, GDP(E), Gross Domestic Product, Growth of a country, Income approach, population, standard of living, why GDP per capita, world's largest economy
  CPI vs RPI CPI and RPI are indices used to measure inflation in UK. CPI is Consumer Price Index, also called Harmonized Index of Consumer Prices (HICP). RPI is the Retail Price Index which measures change in prices of a basket of goods and services over a period of time. RPI RPI was devised to […]
  CPI vs Inflation CPI and Inflation are terms related to the economy of a country. Difference between CPI and inflation has been a confusing and perplexing one. CPI (or Consumer Price Index) has been merely an attempt to measure inflation in any economy where the prices of commodity have been rising over a given period […]