Ontology: Add gross domestic product

[l-emele]

Description of the issue

For the scenario fact sheets we need a definition of _gross domestic product_.

Ideas of solution

If you already have ideas for the solution describe them here

Workflow checklist

• [ ] I discussed the issue with someone else than me before working on a solution
• [ ] I already read the latest version of the workflow for this repository
• [ ] The goal of this ontology is clear to me

I am aware that

• [ ] every entry in the ontology should have a definition
• [ ] classes should arise from concepts rather than from words

[stap-m]

Would GDP be a subclass of value which is discussed in #342 ?
Or a quantity value?

[han-f]

Let's start from Wikipedia:
_Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period_
https://en.wikipedia.org/wiki/Gross_domestic_product

GDP is expressed as a quantity value (numeral, unit - e.g. 3.8 trillion Euro) - that said, can currency be viewed as a unit actually?

[jannahastings]

FIBO (the Financial Industry Business Ontology) defines GDP as:
_An economic indicator representing the broadest measure of aggregate economic activity, measuring the total unduplicated market value of all final goods and services produced within a statistical area in a period_

[han-f]

Sounds good to me.

[l-emele]

So can we implement?

[akleinau]

We don't have economic indicators as superclass in the ontology. Include it or decide on another superclass?

[jannahastings]

We don't have economic indicators as superclass in the ontology. Include it or decide on another superclass?

Let's assign a superclass that we already have and tweak the definition slightly.

E.g. using quantity value as the parent:

GDP is defined as _A quantity value that represents the broadest measure of aggregate economic activity, measuring the total unduplicated market value of all final goods and services produced within a statistical area in a period._

If we want to group together several economic values, we could create

economic value subClassOf quantity value and defined as _A quantity value that is economically relevant._

And then the def of GDP would becomes _An economic value that represents the broadest_ ...

What do you think?

[l-emele]

Sounds reasonable.

[sfluegel05]

Is this ready for implementation then?

To make economic value a subclass of quantity value, we should also move quantity value to oeo-shared.

[jannahastings]

Yes, I agree