Question

one page

find an article that relates to GDP or any components of GDP. This includes consumption (consumer spending); investment (business investment or new houses); government purchases; or net exports.

• Explain the article
• Explain how it relates to what we are learning
• Explain your opinion about it, support with real-life experience
• Include link to article

Answer 1

Answer :-

Gross Domestic Product ( GDP) -  
GDP is the total monetary value of good and services produced in a country and evaluated in market price.The growth of a country is measured by GDP, the increase in GDP shows the economic progress of that country.
In GDP calculation , we evaluates Consumer Spendings ( C), Investments ( I) , Government spending ( G) and Net Exports ( X - M)

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

1) Consumption ( C ) - It is largest GDP Components which consist private expenditures of goods and services . Like we as citizen purchases several goods and services like clothes , food items etc.

2) Investment ( I) - It consist business investment like investment by households on new houses

3) Government Spendings ( G) - It is calculated by sum of government spendings on final goods and services like payments of public services , purchase of government vehicles , weapons etc .

4) Net Export ( X- M) - X represents the export of final goods and services and M represents import of final goods and services .

Under this article, we are understanding the concept of GDP, which will help us understand the economic situation and growth in our country as well as the entire world. We usually keep hearing the word newspaper and tv news GDP, so it is very important to understand its meaning. Today, the concept of GDP is a well-known and widely accepted concept of measurement of economic development all over the world. Therefore, understanding it in this article is not only beneficial but also necessary.