Back in May, we introduced you to a concept called GDP, and today we’re bringing you a real-life example of what it looks like. If you don’t remember what GDP is, here’s a quick rundown. GDP = Gross Domestic Product It’s a monetary (or market) value that comprises of the goods and services produced within a country's borders. GDP is a mechanism used to assess the health of a nation’s economy and to identify if a country’s economy is growing, or shrinking. In Australia, we calculate GDP on a quarterly basis. Governments are then able to make policy decisions depending on that number.
A real-life GDP example
A real-life GDP example
A real-life GDP example
Back in May, we introduced you to a concept called GDP, and today we’re bringing you a real-life example of what it looks like. If you don’t remember what GDP is, here’s a quick rundown. GDP = Gross Domestic Product It’s a monetary (or market) value that comprises of the goods and services produced within a country's borders. GDP is a mechanism used to assess the health of a nation’s economy and to identify if a country’s economy is growing, or shrinking. In Australia, we calculate GDP on a quarterly basis. Governments are then able to make policy decisions depending on that number.