Please explain any One or more concept of your choice.

Tariffs refer to a form of tax imposed on exports and imports. The revenue obtained by tariffs brings gains to the government.

Quotas refer to the limitations imposed on the quantity of products exported or imported. The gains obtained by quotas are beneficial for the traders.

GDP – Gross Domestic Product is an indicator to find the strength of a country’s economy.

GNP- Gross National Product is an indicator to find how the nationals of a country are performing economically. 

PER CAPITA INCOME – Can be arrived by dividing overall income of the population by the number of people included in the population.

Budget Deficit or Surplus

A Budget deficit is a budget in which the utilization of funds are in excess of sources, the revenue is less than the expenses.  A Govt. may complete deficit by getting grants or loans from local banks or from the central bank to cover the deficit.

The surplus is the excess of revenue from expenses or utilization.

 Hi Venkitaraman,

Good evening. In my opinion,

1. Inflation Rate:- The rate at which the general level of prices for goods and services is rising, and, subsequently, purchasing power is falling (definition on investopedia). It is affected by the demand and supply mismatch, increased in operational cost and especially when current rate decline since it impact on import goods as well as export goods.

2.Unemployment Rate:-  The percentage of the total labor force that is unemployed but actively seeking employment and willing to work  (definition on investopedia). It is affected by recession in the business, high expectation about the candidate regarding qualification, experience and automation in business to increase the efficiency and productivity in the business.

3.Future Trend:-  Every business seeks for the future trend about the business revenue and cost which can incur. Since, trend is the certainty about the movement of business. By seeking such information, the company can make future plans about the production, avoid unwanted cost or reduce operational cost. So in today's world this is very important for every business either it is rendering production or rendering service.

1. Export restrictions

Limitations on the quantity of goods exported to a specific country or countries by a government.

2. Unemployment rate

A measure of the prevalence of unemployment and it is calculated as a percentage by dividing the number of unemployed individuals by all individuals currently in the labor force.

3. Balance of Payments

The Balance of Payments shows a countries transactions with the rest of the world. It notes inflows and outflows of money and categorises them into different sections

Balance of payments:The difference in total value between payments into and out of a country over a period.

GDP per Capita

GDP per capita is the same as a country's entire economic output per person. GDP is short for

Gross Domestic Product , which is everything that a country's economy produces in a year. GDP per capita takes a country's GDP and divides it by the country's total population. For example, GDP in the U.S. was $15.66 trillion in2012. This is greater than any other single country, although less than the European Union which is a collection of26 countries. Looking at GDP per person helps you understand that one reason America is so productive is because it has317 million people. This is more than any other country, except China or India . American GDP per capita is $49,800, making the U.S. the12th most prosperous country per person. What's the most prosperous country per capita? Qatar - its GDP per capita is $102,800. For more, see GDP per Capita .

GNP per Capita

Gross National Product ( GNP ) per capita is similar to GDP per capita, in that it is a measurement of a country's economic output per person. However, it's also a measurement of income. It counts all income earned by a country's residents and businesses, regardless of where the money is made. In other words, it includes all investments made by the residents and businesses, whether it's inside or outside its borders. This means it also includes the value of the products made by its businesses, even it they are manufactured overseas.

'Economic Growth Rate'

A measure of economic growth from one period to another in percentage terms. This measure does not adjust for inflation, it is expressed in nominal terms. In practice, it is a measure of the rate of change that a nation's gross domestic product goes through from one year to another. Gross national product can also be used if a nation's economy is heavily dependent on foreign earnings.

=(GDP2-GDP1)/GDP1

GDP means grass domestic produce.in this term the foreign earnings of that country are also include in total national earnings. 

The balance of payments (BOP) is the method countries use to monitor all international monetary transactions at a specific period of time. Usually, the BOP is calculated every calendar year. All trades conducted by both the private and public sectors are accounted for in the BOP in order to determine how much money is going in and out of a country. If a country has received money, this is known as a credit, and if a country has paid or given money, the transaction is counted as a debit.

Agree with the other expert's answers...