The Monetary Value That Represents All Of The Products...

The monetary value that represents all of the products made in a country is Gross Domestic Product. This figure affects my life right now because the unemployment in the country can be observed by looking at the gap between the GDP per capita and the GDP per person. I can use this information because I am seeking a job. Also, in the future, knowledge of the GDP can be useful because I will want to know my personal productivity compared to the average which is represented by the GDP per employed person. Additionally, the Consumer Price Index is a figure that illustrates the inflation of prices over time. It is determined by the values of the prices of goods that are included in the ‘basket of goods’ which has products that consumers usually†¦show more content†¦Furthermore, the Industrial Production and Capacity Utilization are used to predict if inflation will occur. The industrial production measures how many manufactured goods are produced and the capacity uti lization figure uses this information to create a ratio that determines whether there is a supply shortage or not. These figures can help me to find out if it is a good time to seek a job in a particular industry. For instance, right now the capacity utilization rate is at 81.9% in the mining industry which shows that there is a limited amount of supply, so employment opportunities would be increased in this field (Industrial Production†). In the future, I can use this figure to predict if prices would increase in the field because if there is a limited amount of supply, then prices would increase. To add, Retail Sales is an economic indicator that shows the comparison of sales in the retail industry within a few weeks. It is included in the GDP because the retail sales shows the productivity shows the majority of sales and production in the overall economy. I can use the retail sales figure in my life because I can see how the prices in retail will change. Also, in the future, I can use retail sales to find out if retail is a good industry to invest in. Business Inventories and Sales is a figure that contributes to determining the overall productivity of the economy. This indicator shows the supply