What can GDP tell you❓

What can GDP tell you❓

For this article, I would like to present knowledge about what is called GDP, what this is and what functions it has to leave each other. If you're ready, let's go see it.

🔹 Get to know GDP

GDP, short for gross domestic product, is the gross domestic product of a country. This is calculated from the final value of goods and services produced in the country during that period. In other words, GDP is the total economic value that occurs within a country. If the GDP figure is higher, it means that there will be more income generated within the country. That is because it comes from the trading of people within the country. And there is more employment as well. And the government has invested in various projects. It also includes tourists that come to use more money in the country itself.

By calculating the numerical value of GDP, the formula is as follows:

GDP = C+I+G+(X-M)

1.C is an abbreviation for Consumption, which is the consumption of the private sector and the general public. where it is the value that arises from the purchase of various uses within daily life For example, buying food, buying various products. , payment for water, electricity, etc.

2.I, with an abbreviation of Investment, is what is an investment in the private sector. which in this part comes from various investments In the private sector whether in the purchase of various machines software purchase Construction of buildings and offices, etc.

3.G is an abbreviation for Government Spending. This is the spending and investment of the government. which is the total cost of the government This will consist of the salary of government officials. and money used for investments in various policies For example, building roads, purchasing military equipment, etc.

4.X-M = net export is something about net export value. which is calculated from the negative value of exports by the value of imports. And if exports are more, it will have a positive effect on GDP growth figures.

🔹gdp is positive or negative what is the meaning

Positive gdp means that the economy is growing more and more. and there is more circulation within the country The people have the power to buy various products.

gdp is negative, it can be shown that the snapshots of the economy that is going down

How are you? Hope this article will be useful for all readers. And see you again in the next article.

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