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GDP is a measure of the total economic output of a country. It represents the market value of all final goods and services produced within a country in a specific time period.

Maha Hassan

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The method to measure GDP

1-output method

2-income method

3-expenditure method

Shahad Oamr

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GDP is the total monetary or market value of all the finished goods and services.

GDP can measured by:

1- market prices

2- factors prices

3- current prices

4- constant prices

formula of GDP

GDP = C+I+G+(X-M)

Fatima Waleed

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GROUP A

GDP: The total value of everything a country makes and does.

Circular Flow of the Economy : Money and stuff (goods and services) go round and round between people, businesses, and the government.

Using GDP:

economic health indicator

comparing econmies

Using Circular Flow:

tracking transactions

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GDP: is the final value of the goods and services produced within the geographic boundaries of a country during a specified period of time.

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measures the monetary value of final goods and services—that is, those that are bought by the final user—produced in a country in a given period of time

Alreem Ahmed

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Changes in GDP growth rates can indicate the direction of an economy. Positive GDP growth suggests economic expansion, while negative growth may signal contraction or recession.

(Indicator of Economic Health)

Asma Bader

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The importance of GDP

Gives information about the size of the economy and how an economy is performing .

the important features are consumption of goods and services, government spending, business investment, and net exports.

Fatima Omar

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GDP : is so important for the country to know the economy production.

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Mona Jamal + Alghala Khaled

The circular flow diagram can be used to illustrate GDP as an income stream flowing in one direction and expenses for resources, goods, and services flowing in the other direction.

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GDP can be represented by the circular flow diagram as a flow of income going in one direction and expenditures on goods, services, and resources going in the opposite direction.

- Aisha Faisal

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GDP: It's the total value of all goods and services produced in a country within a specific time frame, usually a year as it seems.

Circular Flow of Economy: It's like a big circle where money and goods move around. In this circle, households provide labor and receive income salaries.

Khadija

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Though it has limitations, GDP is a key tool to guide policymakers, investors and businesses in strategic decision- making.

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GDP: can also be seen as a measure of the total economic output within a specific geographical area.

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Gross Domestic Product (GDP) is one of the most widely used measures of an economy’s output or production.

Asma Alnuaimi

mahra alnaqbi

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GDP is a very important way to measure the total value of all goods and services produced within a country's borders over a specific period, it is not 100% efficient and effective because it doesn't consider many aspects of the economy such as poverty and black markets.

-Fatema Abdulla :)