A. Concluding Statement

Economic growth can be defined as an increase in goods and services produced for the population over time. It is one of the most important key factors in a well running economy. Why? Because it creates profit for all the businesses available around the world, with the businesses making money, they can hire people and give jobs and to invest in other companies. When people master the art of finding that one thing people want and keep coming back, it becomes a continuous cycle. Economic growth is important to any population to measure how far they are getting and if they are not going in the right direction. There are many things that could cause the economy to crash such as inflation, environment costs, and a decline in living standards.  By keeping up with the GDP is how they avoid any problems.

Amadeo said the way gross domestic product can defined is “the best way to measure a country’s economy. GDP is the total value of everything produced by all the people and companies in the country. It doesn’t matter if they are citizens or foreign-owned companies. If they are located within the country’s boundaries, the government counts their production as GDP.” GDP helps us know if we are headed for a recession or if inflation is arising. It is usually measured within a time period such as yearly. It’s how we keep afloat in my opinion because if we didn’t have something that can tell us if we are doing bad or good we would be clueless.

Growth domestic product is related to economic growth because it is the best way to measure economic growth. “It takes into account the country’s entire economic output.” It includes all goods and services that businesses in a country provide. Also, through the GDP, we could recognize how the economy changes, at what percent economic growth grows or falls and the progress of other nations.

With countries as successful and stable as the United States, there are certain companies that give America stabilization such as Apple Inc., Wal-Mart, and Amazon. These companies in America have given the United States a strong hand in their economic health. Nowadays, there is not one country that does not know what an iPhone is or a Macintosh computer. Wal-Mart is also another company that gives American what they want and when they need it. Wal-Mart’s 24-hour business strategy has put a standard on the competition around them and has forced smaller or big companies to compete with 24-hour service. Because of this now companies in America have to work two and three times as hard and as a result America’s GDP cycle runs smoother and creates great economic health.

Some of the things the Dominican Republic was known for exporting were sugar, coffee, and tobacco.  But as time as progressed they saw a market for tourism and excelled at providing a vocational spot for people all around the world. Other ways they found to make money were construction and free trade zones.  As found on The World Fact book “The mining sector has also played a greater role in the