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What is gdp? How to understand gdp

2018-04-12 03:12:10

Gross Domestic Product (GDP) refers to the final product of production activities of all resident units of a country in a given period of time. GDP can be understood from the following aspects.

Methods/Steps
1

What is GDP? GDP is the final product of the productive activities of all the resident units of a country in a given period of time. Two key words: resident units, production activities.

2

GDP is not necessarily generated within the territory of the country. Most of the resident units are engaged in production activities within the territory of the country, but there are exceptions: ocean-going ships can sail to international waters, the waters of other countries, and the value added by their production activities is also counted as the GDP of the country.

3

Consumption demand, investment demand and net export demand are the manifestations of GDP, only production activities create GDP, consumption and investment do not directly create GDP.

4

GDP reflects economic growth, and the index is the economic growth rate, that is, the GDP growth rate. Every country wants to maintain steady and fast economic growth.

5

The economic scale of a country is reflected by GDP, and if a country does not have a certain economic scale, there is no economic strength.

6

Per capita economic development level is one of the important symbols of a country's level and people's living standards, which is mainly measured by per capita GDP.

7

Important economic structures are also mainly reflected by GDP, such as the tertiary industrial structure.

8

GDP is an important tool to reflect economic performance and an important basis for formulating economic policies.

9

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