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In his iconic work The Wealth of Nations, Adam Smith summarized the balance between the consumer and the producer as a core of a strong, healthy economy. "Consumption is the sole end and purpose of all production," he said, "and the interest of the producer ought to be attended to, only so far as it may be necessary for promoting that of the consumer" (Adam Smith Institute, 2003). Indeed, production is central to the health of a nation's economic landscape. Then again, as Smith correctly points out, production must occur within the framework of the overall economy—that is, it must attend to the demand of the consumer, lest an imbalance occur. It is for this reason that the main indicators of a nation's economic condition focus on the balance between production and consumer demand. At the same time, production is linked to the needs of the consumer, as well as a host of other important factors. In an ever-evolving international economic environment, it is invaluable to determine both whether a national economy is healthy and how it compares to others within the international community. This paper will take an in-depth look at two major indicators of the health of a given economy. On the production side, this essay will review the concept of a country's gross national product. It will also briefly outline some other models employed to gauge economic health, such as gross domestic product. By analyzing the nature of these economic indicators, the reader will glean a better understanding of the balance between productivity, consumer confidence and the changing global economy in the postindustrial era. Put simply, gross national product (GNP) is a measure of the total economic output of a national economy. It is derived from that sum of the value of the final goods and services
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