gdp is a number that expresses the worth of the output of a country in local currency n.
Download
Skip this Video
Loading SlideShow in 5 Seconds..
GDP is a number that expresses the worth of the output of a country in local currency. PowerPoint Presentation
Download Presentation
GDP is a number that expresses the worth of the output of a country in local currency.

Loading in 2 Seconds...

  share
play fullscreen
1 / 12
zorina

GDP is a number that expresses the worth of the output of a country in local currency. - PowerPoint PPT Presentation

103 Views
Download Presentation
GDP is a number that expresses the worth of the output of a country in local currency.
An Image/Link below is provided (as is) to download presentation

Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server.

- - - - - - - - - - - - - - - - - - - - - - - - - - - E N D - - - - - - - - - - - - - - - - - - - - - - - - - - -
Presentation Transcript

  1. GDP is a number that expresses the worth of the output of a country in local currency.

  2. In a way, the GDP tries to calculate the value of everything that a country produces.

  3. Some people use the GDP to see how ‘strong’ a country’s economy is

  4. Price of Knives Quantity of knives A very simple example

  5. Llerryt Country only produces 2 things:Bananas and Knives

  6. Each year, they calculate the GDP to see how the economy is doing. Get your pens and calculators ready…

  7. Price of knives Quantity of knives In year 1 they produce 5 bananas that are worth $1 each

  8. Price of Knives Quantity of Knives In year 1, they also produce 5 knives that are worth $6 each.

  9. Price of Knives Quantity of Knives The GDP for the country in this year equals (quantity of bananas X price of bananas) + (quantity of knives X price of knives)

  10. So…….(5 X $1) + (5 X $6) = $35 Price of knives Quantity of knives

  11. The GDP for Llerryt Country for year 1 is $35 Of course, in real life, it is not that simple, but you get the idea.