What is GDP, Inflation and other economic indicators?

[Joshua Farrell]

Do you know how to define GDP, inflation and other economic indicators? Explain in your words what they are.

 

[Setho]

Country GDP gross domestic production and the total amount of money that was realised from the sale of products which two countries produced.
Inflation is the decline of the purchasing power of normally a particular currency and it is usually very slow and steady.

 

[Trexxxy]

Country GDP gross domestic production and the total amount of money that was realised from the sale of products which two countries produced.
Inflation is the decline of the purchasing power of normally a particular currency and it is usually very slow and steady.

Also to add to your point. Inflation can also be the rise in the prices of goods, which also mean decrease in the purchasing power of a currency. Other economic indicators include, unemployment rate, gross national product and so on.

 

[Kane]

GDP or Gross Domestic Product is the indicator that shows how much a certain country earned in one year. The country's earnings will be calculated based on the value of total production (industry, agriculture, etc,) and other revenue sources (tourism, tax, customs, etc,).

 

[Syldan]

GDP is an economic tool which aid in measuring the standard of living of people and the economic performance of a given state either good or bad. and inflation deals with the raise and fall in the economy or the standard of living of the people.

 

[Kvngsammy]

Gross domestic product is the monetary value of all the goods and services made in a country for a particular period of them; it's majorly used for determining the correlation between a nation's economy and it's growth rate.
Inflation is when prices of goods and services shoot to a level that's more than affordable

 

[Syldan]

GDP, which stands for gross domestic product. this are the total value of products produce in a country over a period of one year. which is used to determine the standard of living of people in the country. inflation is seen as the raise and fall in the value of goods and services in the country within a period of time.

 

[tyrim88]

One thing about a countries GDP is that a country that solely depend on importation of majority of its products from outside will have a low gdp,because there are no industries to help its GDP to come up.And inflation is the next thing to follow,which is the low purchasing power of the populace due to high cost of goods,as a result of lack of local production.

 

[Syldan]

GDP which stands for gross domestic product and is used to measure the quality standard of living of people in a country. The inflation, which deals with the raise and fall in the value of goods and services both internal and externally which also affects the standard of living in a country.

 

[kinqzbitz]

GDP actually measures the quality of people actually living in the society and inflation deals with the rise and fall of goods and services in an area and it also affects the quality of people living in the society

 

[Syldan]

The quality standard of people in a country, is always measured by the GDP. which is the gross domestic product. Inflation in the other way is the is an economic situation which is unstable in the price of goods and services in a particular country.

 

[Ezekiel]

Inflation itself is the decrease in monetary power and prices of goods has increased as well and this make survival difficult and it affect economy of the country

 

[Abasiama40]

GDP is the Gross Domestic Product, and it is used to measure the quality of the standard of living of a country, inflation is the low purchasing power of the people due to high cost of goods and services.

 

[Good-Person]

Inflation simply refers to a lack of purchasing power and devaluation of the local currency of a government. Inflation is increasing every week in my country and it is becoming harder to live in here.

 

[Justin]

Inflation is one of the worse economic conditions any country can suffer inflation is worse than recession. In recession there re no economic activities, when there is inflation, there will be no value of your money.

 

[Kaffyfolla]

Annual GDP figures are often considered the best indicators for the size of the economy. Economists use two different types of GDP when measuring a country's economy. Real GDP is adjusted for inflation, while nominal GDP is not adjusted for inflation. An increase in GDP indicates that businesses are making more money.

 

[Grandeur]

Gross Domestic Product called GDP is the total sum of goods imported and exported and inflation is persistent rise in goods normally caused by money loosing its value

 

[Alexandoy]

I clearly know inflation as the rising of the price of goods and services. The effect is the diminishing value of the money. I know the meaning of GDP as the national output of products. But I am at a loss on how they get the statistics for that. It is not easy to estimate how much a farm had produced.

 

[Sincerem]

This terms are used to accurately define economic state of a region it country. Inflation refers to the devaluation of a countries currency due to the lack of good income or revenue regeneration sources.

 

[Syldan]

GDP means gross domestic product. in economic is an economic tools which is used to determine the total income of a country or net profit of an economy within the whole year.