How to gdp are work in economic development
I want understand how gdp are working in economic development
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Bhawani - 1329 Views
- 13 Answers
in order to know the interrelation between gdp and economic development you must know what is gdp firstbr /strongGross domestic product/strong (strongGDP/strong) is a monetary a rel='nofollow' href="https://en.wikipedia.org/wiki/Measurement_in_economics"measure/a of the market value of all the a rel='nofollow' href="https://en.wikipedia.org/wiki/Final_good"final goods/a and services produced in a specific time period.a rel='nofollow' href="https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(nominal)_per_capita"GDP (nominal) per capita/a does not, however, reflect differences in the a rel='nofollow' href="https://en.wikipedia.org/wiki/Cost_of_living"cost of living/a and the a rel='nofollow' href="https://en.wikipedia.org/wiki/Inflation"inflation rates/a of the countries; therefore using a basis of a rel='nofollow' href="https://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_per_capita"GDP per capita at purchasing power parity (PPP)/a is arguably more useful when comparing a rel='nofollow' href="https://en.wikipedia.org/wiki/Standard_of_living"living standards/a between nations, while nominal GDP is more useful comparing national economies on the international market.br /br /if gdp is high and it is strong ones country may top in their economic development
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- 19 May
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