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SEGMENTATION VARIABLES: Characteristics of organizations, groups, and individuals which are used to divide a market into smaller units or segments. Some of these characteristics would be age, gender, geographic location, or psychological factors. Typically, these can be grouped into 4 categories; demographic, geographic, psychological, and behavioristic.The marketer uses these variables to develop a target market for their products or services.

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Lesson 10: Gross Domestic Product | Unit 2: Looking Behind GDP Page: 7 of 25

Topic: Past and Future <=PAGE BACK | PAGE NEXT=>

Slice A includes market transactions that are NOT economic production, and are excluded from GDP.

Two activities in slice A:

  • Future production. Intermediate goods will become part of GDP in the future when production is finished. To avoid double counting, we exclude these market transactions.
  • Past production. Used items (cars, houses) produced before the start of our current time period. Because they are not current production and were included in GDP in a previous year, they are excluded from GDP

Slice A is excluded from GDP.


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STATISTICAL DISCREPANCY

The official adjustment factor in the National Income and Product Accounts that ensures equality between the income and expenditures approaches to measuring gross domestic product. This is one of several differences between national income (the resource cost of production) and gross (and net) domestic product (the market value of production). It is also the key difference between gross domestic income and gross domestic product. This statistical discrepancy tends to be relatively small, usually less than 1 percent of gross domestic product.

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