The measures used in economics are physical measures, nominal price value measures and fixed price value measures. These measures differ from one another by the variables they measure and by the variables excluded from measurements. The measurable variables in economics are quantity, quality and distribution. Excluding variables from measurement makes it possible to better focus the measurement on a given variable, yet, this means a more narrow approach. The table was compiled to compare the basic types of measurement. The first column presents the measure types, the second the variables being measured, and the third column gives the variables excluded from measurement.
14-576: [REDACTED] Look up gmp in Wiktionary, the free dictionary. GMP may refer to: Finance and economics [ edit ] Gross metropolitan product , a measure of goods and services produced Guaranteed maximum price , as agreed in some contracts Guaranteed Minimum Pension , in UK occupational pensions Science and technology [ edit ] GNU Multiple Precision Arithmetic Library ,
28-536: A British publisher Gazza Music Productions , a Namibian music label Goody Music Productions , a former Italian music label Other organizations and businesses [ edit ] Gamone Pwint , a Burmese retail conglomerate Gerkan, Marg and Partners , a German architectural firm Glass, Molders, Pottery, Plastics and Allied Workers International Union , a trade union Global Marshall Plan , an environmental plan proposed by Al Gore and an organization created to facilitate that plan Good Men Project ,
42-486: A non-profit in New York Group medical practice Other uses [ edit ] Good management practice ; See GxP Grampian , former local government area of Scotland, Chapman code Topics referred to by the same term [REDACTED] This disambiguation page lists articles associated with the title GMP . If an internal link led you here, you may wish to change the link to point directly to
56-647: A platform for electric cars Organizations and businesses [ edit ] Government and political organizations [ edit ] Ganamukti Parishad , a left-wing movement organization in Tripura Global Monitoring Plan , a programme under the Stockholm Convention on Persistent Organic Pollutants Gerakan Mansuhkan PPSMI , a Malaysian political lobby Greater Manchester Police , England Publishers of books and music [ edit ] Gay Men's Press ,
70-416: A real process are capacity, efficiencies, lead times, loads, faults, product and process characteristics, etc. A fixed-price value measure is used to measure changes in quality and quantity. True to its name, prices are kept fixed for a minimum of two measuring situations. For this reason, it is possible to define the changes in quality and quantity of a most varied and wide range of commodities, keeping apart
84-658: A software library Granulocyte-macrophage progenitor Guanosine monophosphate , a nucleotide Good manufacturing practice Graduate Medical Program Galápagos Microplate , a geological feature Transportation [ edit ] GmP , a category of mixed train in German-speaking countries Gimpo International Airport (IATA code), Seoul, South Korea Martin GMP , an American transport aircraft Gaobeidian East railway station (telegraph code), China Railway Hyundai Electric Global Modular Platform ,
98-510: A variable of the production refers to a series of events in which the unit prices of constant-quality products and inputs alter causing a change in income distribution among those participating in the exchange. The magnitude of the change in income distribution is directly proportionate to the change in prices of the output and inputs and to their quantities. Productivity gains are distributed, for example, to customers as lower product prices or to staff as higher pay. A physical measure can measure
112-494: Is always presented with fixed-price ratios, i.e., its variables, productivity and volume, are fixed-price values. The most common figures in measuring business are the figures because they can describe the profitability of business process. Variables in the nominal price measurement are quality, quantities and distribution (in form of product prices). There are no excluded variables. Nominal price measures of value are suited for measuring profitability and its components as well as
126-539: Is done only for metropolitan areas and not for micropolitan areas , metropolitan divisions, combined statistical areas , and BEA economic areas. Measurement in economics The measurable variables in economics are quantity, quality and distribution. Measuring quantity in economics follows the rules of measuring in physics. Quality as a variable refers to qualitative changes in the production process. Qualitative changes take place when relative of different constant-price input and output factors alter. Distribution as
140-432: The changes in income distribution. Fixed-price measures are suited for wide-ranging measurement because it is possible to combine different commodities based on their value. In a fixed-price measurement, a change in quality means that the relative quantities and relative prices of various commodities change. The best known applications of this are the productivity formula and the production function . The production function
154-405: The intended article. Retrieved from " https://en.wikipedia.org/w/index.php?title=GMP&oldid=1187774934 " Category : Disambiguation pages Hidden categories: Short description is different from Wikidata All article disambiguation pages All disambiguation pages Gross metropolitan product Gross metropolitan product ( GMP ) is a monetary measure of
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#1732771911653168-453: The objects being measured are by no means related to the physical measures, hence, changes in prices do not affect the measurement results. Normally it is not possible to combine physical measures. They are best suited for narrow-focused measurements with neither quality nor value alterations. Therefore, physical measures are best for measuring the real process, and this is why they are used a lot as tools of operative management. Typical ratios in
182-418: The quantity of a variable with unchanged quality. Using a physical measure provides that the quality of the measurement object has been specified and the quality remains homogeneous. If the presumed unchanged quality is not realized, the measurement gives results which are hard to interpret. In this case, the results are affected by changes in both quantity and quality but in which proportion is unknown. Values of
196-596: The value of all final goods and services produced within a metropolitan statistical area during a specified period ( e.g. , a quarter, a year). GMP estimates are commonly used to compare the relative economic performance among such areas. GMP is calculated annually by the Eurostat . GMP is calculated annually by the Bureau of Economic Analysis within the United States Department of Commerce . This
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