International Competitiveness

International Competitiveness

The ability of a country to compete effectively in the global market to sell its goods and services.

Aggregate Demand (AD)

The total demand for goods and services within an economy at a given price level and in a given time period.

Export Prices

The cost at which a country sells its goods and services to foreign markets.

Unit Labour Costs

The average cost of labor per unit of output produced.

Global Competitiveness Index

An index that measures the competitiveness of countries based on various factors like infrastructure, health, education, and technology.

Exchange Rate

The value of one currency for the purpose of conversion to another.

Wage Costs

The expenses incurred by a company in paying its employees.

Non-Wage Costs

Costs incurred by a company that are not related to employee wages, such as regulations, pensions, and taxes.

Supply-Side Policies

Government policies aimed at increasing the production capacity and efficiency of an economy.