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Lecture no. 10 Business Economics (GDP (GDP of Different Countries (• …
Lecture no. 10
Business Economics
GDP
Gross domestic product is a monetary measure of the market value of all the final goods and services produced in a period of time, often annually.
GDP of Different Countries
• Saudi Arabia Economy - $683.8 Billion
• UK Economy - $2.622 Trillion
• India Economy - $2.597 Trillion
• Turkey Economy - $851 Trillion
• America Economy - $19.39 Trillion
• Somalia Economy - $7.369 Billion
• Azerbaijan Economy - $40.75 Billion
• Nepal Economy - $24.47 Billion
• Universe Wealth - $1.5 Quad Trillion
Three Methods of calculate to GDP
Methods
Production Method
Income Method
Consumption Method
GNP
It is a broad measure of a nation's total economic activity. GNP is the value of all finished goods and services produced in a country in one year by its nationals.
Production Method
Formula
GDP = C + I + G + (X - M)
World Development Indicator
To check world economy.
Why GDP is important?
To calculate the financial worth of the country.
Pakistan Export Trade Transaction
With arround 40 countries.