How to gdp are work in economic development

I want understand how gdp are working in economic development

Your Answer

in order to know the interrelation between gdp and economic development you must know what is gdp first
Gross domestic product (GDP) is a monetary measure of the market value of all the final goods and services produced in a specific time period.GDP (nominal) per capita does not, however, reflect differences in the cost of living and the inflation rates of the countries; therefore using a basis of GDP per capita at purchasing power parity (PPP) is arguably more useful when comparing living standards between nations, while nominal GDP is more useful comparing national economies on the international market.

if gdp is high and it is strong ones country may top in their economic development

Aptitude

Didn't get the answer.
Contact people of Talent-Aptitude directly by clicking here