Did You Know

December 19, 2011

• That in the 2011 financial year IKEA, the globally recognised Swedish home furnishing retailer, sold $34.53 billion worth of sofas, kitchens, cutlery, coat hangers, bookshelves, beds mirrors, light globes, greeting cards  and everything else for the homemaker.  And they see tremendous opportunities in Australia as they are expanding significantly from their previous three outlets (all on the eastern seaboard) to 11 in the next five to 10 years.
 
• The term GDP (Gross Domestic Product) was first developed by Simon Kuznets for a US Congress report in 1934, who immediately said not to use it as a measure for welfare.  It was not really brought into use until after World War II.  It refers to the market value of all final goods and services produced within a country in a given period.  GDP per capita is often considered an indicator of a country's standard of living.

 

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