GDP

GROSS
DOMESTIC
PRODUCTS
Gross Domestic Product (GDP) is the total value or market value of all final goods
and services that is produced in the country included country’s boundaries in a
given year. There are four categories of final goods and services such as consumer
goods and service, investment goods and services, government goods and services
and net exports and import. Within those, the final product produce doesn’t matter
who produced it is it a foreigner or citizens as long as it produce in the country, it
includes to the GDP. GDP is also tracking a country economies is it growing or
recession.
Information sourced from Wikipedia | www.wikipedia.org

Nominal GDP Real GDP

the market value of final goods
and services evaluated at
current year prices• Increase in
GDP may be due only to price
changes rather than increases
in real quantity changes
takes into account the impact of
inflation and allows comparisons of
economic output from one year to the
next and other comparisons over
periods of time.
• measures volume of final goods and
services, holding prices constant
• shows changes in output only

MEASURE THE ECONOMIC

GROWTH OF A COUNTRY

REAL GDP
GDP PER CAPITA
comparing GDP across more than
one year, economists use real GDP
because, by removing inflation from
the equation, the comparison only
shows the change in output volume
between the years. That means that
real GDP growth reflects a country’s
increased output and is not
influenced by inflation increasing
price level.
GDP per capita is A country's Gross Domestic
Product divided by its population. Standard of
living is connected with GDP per Capita as it
GDP increased considered as salary or
income for everyone in the state also
high, which automatically people will
become healthy, nutrient food, Tax also
increased, which helps to build
infrastructure a lot.

WHEN TWO COUNTRIES HAVE THE SAME GDP

NUMBER, IT DOES NOT MEAN THAT THOSE
COUNTRIES HAVE A SIMILAR STANDARD OF
LIVING.(I AGREE)

LIFESTYLE
lifestyle of human nature to work hard
or not - keep trying if not treated later,
the service will go down.

POPULATION
If the population is lesser, the money
that will be divided is more.

Appropriate Technology
If the government style, authoritarian,
divides quickly, but money runs out
fast (corruption). Democracy is
divided into the people, people who
enjoy it (by building infrastructure,
health care, etc.)