Can somebody explain me about GDP in Layman terms?
What is GDP? And explain in simple terms?
How is the GDP Calculated? What does the GDP show about a nation's economy? What is a GDP and a GNP? How can we calculate them? What is nominal GDP? Is GDP a good measure of economic development? Why or why not? What is the composition of GDP by percentage? What GDP at basic price? How is the percentage of GDP calculated? Is GDP a good measure of economic growth? Why or why not? What is the difference between GDP (PPP) and GDP (nominal)? What are the four components of GDP? What is GDP at factor cost? What is the Nominal GDP of the World? Does GDP determine the standard of living in countries? What is a more useful measure to judge a nation's economy: GDP (nominal) or GDP (PPP) and why? What are the components of GDP at factor cost? What is my contribution to the GDP? What is the difference between the GDP and GNP? Why is the GDP per capita more of a measure of standard of living than the GDP? Is GDP a good measure for the standard of living? What are the advantages and disadvantages of the GDP as an indicator of wealth? How can we calculate GDP GROWTH? What is the GDP of China? Why is GDP called the sum of production of all three sectors, though only secondary sector produces goods? What do you mean when you say the GDP of India is 7.5% (or for that matter any figure between 7-8%)? What is the equation for calculating GDP at factor cost? What are the indicators of GDP as a good measure of standard of living? What are the Pros of calculating GDP at market price rather than factor cost? Is there a map who show the World GDP with details? Is GDP or GNP the best measure of economic growth?