particularly complex in terms of increased uncertainty and risk, especially where such decisions are implemented
by using foreign accumulation.
The investment decision is an inter time decision that bridges the gap among the postponed consumption and
the future production and supply. In that sense, this decision is closely related to the distribution of the GDP by
the purpose, but also with the rest of the world (international trade). Such activity observed integral on a level of
national economy, is determined by a number of factors that make a close interactive relationship anyway,
especially in small open economies.
Starting point when planning investment activity in each case is a standard formula for the expenditure principle
of formation of GNP (Gross National Product), which expresses the distribution of GNP by the purposes
earmarked for certain expenditures of the state, citizens, businesses and exports:
GNP = C +I + G + X - M,
where GNP denotes the gross national product, C denotes personal consumption, I—investments, G—government
spending, X—exports (eXsport), and M—imports (iMport) [1].
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