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Transcript of GDP Prezi
GDP stands for
GDP is the measure of all
goods and services.
Final Goods and Services
Intermediate Goods and Services
are goods sold to the final, or end, user.
are goods and services bought from one firm to another that are inputs into for final goods and services
Intermediate goods and services are not include in the GDP only
3 Ways to Calculate
1. GDP= Added total value
of all final goods
ex. = $21,500
2. GDP= Added spending
on all domestically
3. GDP= Added total factor
income earned by
firms in the economy
Based off the 2ND way to calculate
the GDP, an equation can be formed.
Total spending on domestically produced
goods and services in the economy is
is the sum of
purchases of Goods and Services
Exports minus Imports
GDP= C + I +G + (X - IM)
In a NUT SHELL
What does the GDP tell?
MOST IMPORTANT: the GDP measures
size of the economy
Ex. South Korea is a booming economy
as of 2013, while the US has a much slower
However, the US has a larger GDP
than South Korea. Meaning US has
larger economic weight than South Korea
GDP (Gross Domestic Product) is the total value of all final Goods and Services of a given year.
GDP can be calculated 3 different ways
GDP= C +I +G +(X-IM)
GDP measures economic size