Ever wonder about the optimal way to compare economic wealth of different countries?

Nowadays, we all wonder what does the abbreviation GDP mean as it is too often being thrown around in debates and economic reports. GDP, or Gross Domestic Product, is a measure to help determine how well a country's government can recognize its citizen’s needs and fulfill them using the resources they have at their disposal to the best of their potential. The same is elaborated in the video using real life scenarios and pleasing visual pictorials.

0:00 Unravel Introduction- Knowledge is Power
0:10 GDP Explained in easy language
0:31 GDP explained with example
0:59 What contributes to GDP?
2:55 What can a country’s government do to help the GDP?
3:52 Inclusion of import and export of goods in GDP
4:20 GDP summarised in dummy language

#GDP #GrossDomesticProduct #Economy