Question

Using the data in Table 32.3, rank the seven regions of the world according to GDP and then according to GDP per capita.

Short answer

Meaning of GDP with conclusion in terms of GDP and GDP per capita.

Step-by-step solution

Step 1. Meaning of GDP.

Defined as the total final values of goods and services produced within the domestic territory of a country in a specified time period. Whereas, GDP per capita measures the average income earned per person in a given area in a specified year.

Step 2. Conclusion in terms of GDP.

a) East Asia and Pacific region ranked first.

b) Latin America and Caribbean ranked second.

c) South Asia ranked third.

d) Europe and Central Asia ranked fourth.

e) Middle East and North America ranked fifth.

f) Sub- Saharan Africa ranked sixth.

Step 3. Conclusion in terms of GDP per capita.

a) Latin America and Caribbean ranked first.

b) Europe and Central Asia ranked second.

c) East Asia and Pacific ranked third.

d) Middle East and North America ranked fourth.

e) Sub- Saharan Africa ranked fifth.

f) South Asia ranked sixth.