Economic Growth and GDP by Abrar Naseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq BY: Abrar Naseer en-us 2020-12-08 22:58:30 UTC 2026-02-05 17:58:56 UTC hello@padlet.com abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000363089 Welcome to my wall

Here we going to discuss and learn how GDP is used to track the health of a nation's economy and what exactly is Economic Growth and how do we measure it. We will have a look at many videos, images, and websites to have a better understanding of how Economic growth works and how countries find other ways to improve Economic Growth.

]]> 2020-12-08 23:03:22 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000363089 Image 1 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000406897 The image expresses that the measurement of economic growth is measured in different ways around the world. Most countries measure economic growth each quarter, some use GDP and the world bank uses gross national income (GN) to measure economic growth.]]> 2020-12-08 23:31:10 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000406897 Image 2 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000431654 This Image reveals the real GDP Growth rate of each country during 2018 which was done by the international monetary fund World Economic Outlook Database. The image clearly shows countries with the highest percentage rates and the lowest percentage rates in different colors in 2018.]]> 2020-12-08 23:47:31 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000431654 Video #1 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000469468 This video hints that the world is in a tough spot with the whole Covid-19 pandemic slowing down economy and Growth, but this is not the same for every state in America. In places like Avimor's in 2020 growth, it appears that growth is at full speed and many people are either trying to buy or sell homes. There is a very high demand for homes in that area which is increasing the growth of the economy in that state. 

I choose this video because we keep hearing bad news each day of companies going bankrupt and the global economy in very bad shape right now but there are still other markets that are benefiting from Covid-19 and as a result, the economy is doing good compare to other areas.

]]> 2020-12-09 00:09:28 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000469468 Video #2 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000539700 This video gives ideas of how china is dealing with Covid-19 and what the Chinese government This video gives ideas of how china is dealing with Covid-19 and what the Chinese government is doing to increase economic growth. It looks like the construction industry is the major driver of the Chinese economy. China is the world's biggest c02 producer which is having a big impact on climate change.

I choose this video because in recent years china's economy is growing very fast and many countries like the USA are worried that they might be the next superpower in a couple of years. Countries like the USA see this as a threat and are doing whatever they can to slow down the Chinese economy.]]> 2020-12-09 00:45:05 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000539700 Video#3 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000598543 This video tells us how recycling can help drive the local economic growth and save the environment by diverting unnecessarily waste to the Landfill. There are many businesses that rely on recyclables and they support many jobs in the province. These companies use these common household products to create a new product.

I choose this video because saving the environment is very important, and people should start recycling more and buy fewer products that harm the environment.
 The government should invest more in renewable energy and stop companies from depending on oil. Coal and Nuclear energy could harm the environment in the future.]]> 2020-12-09 01:13:06 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000598543 Video #4 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000670752 This video reveals that the economy is in a bad situation and the GDP shrink by 4.8% which is the highest decline in the economy. The economy is entirely tied to the virus, getting it to control and how quickly can people get tested, and finding a cure for it permanently. The virus has a major impact on the world economy which is hurting every business and slowing down the economy.

I choose this video because it gives us a clear message on how the world is suffering during this pandemic and it’s affecting everyone around the world. The only way for the economy to get back to normal will be to find a cure for the virus.]]> 2020-12-09 01:48:36 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000670752 Website #1 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000707985 This website explains what GDP is and why it's so important to Economists and Investors. GDP basically tracks the health of a country's economy and many investors use GDP to make decisions whether to invest their money in a country. Economists also use GDP to find whether the economy is going into recession or not.

I choose this website because it's less complicated and it explains very well how GDP is very important and how Economists and investors use it to determine the health of a country. It also talks about how the GDP of a country is calculated by adding the following figures together: personal consumption; private investment; government spending; and exports. 

]]> 2020-12-09 02:09:24 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000707985 Website #2 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000735926 This website looks at how Canada's economy is slowly going back up since many businesses are opening back up and there are fewer restrictions than earlier, and, simply, that consumers and businesses have learned to operate in this new environment. Statistic Canada also reported that the economy grew in August as GDP rose by 1.2 percent in August.

I learned that Canadians and businesses are finding different ways to deal with the virus and also do whatever it can to stop the virus from spreading while doing everything to save their businesses from going bankrupt in the future.]]> 2020-12-09 02:24:56 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000735926 Website #3 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000780238 This website gives a little more detail about How an Economy is measured and there are 3 different ways to measure the growth of real GDP. It is important to know which is being used and to understand the differences between them. The three most common ways to measure real GDP are Quarterly growth at an annual rate, The four-quarter or "year-over-year" growth rate,  and the annual average growth rate. 

I Learned that Each measure has strengths and weaknesses. But mixing up the measures can lead to results that may look confusing at first sight. The Bank of Canada uses average annual growth as a summary measure of broad trends.

]]> 2020-12-09 02:49:38 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000780238 Website #4 abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000808583 This website talks about how Toronto is Canada’s business and financial capital. The city is the second-largest financial services center in North America and it’s becoming a global destination location for financial services.  They mentioned that Toronto is one of the most competitive in major business sectors from technology to science and green energy. Toronto’s rich industrial diversity drives both growth and innovation.

I learned that Toronto makes the Canadian economy very strong and the Toronto growth is significantly outpacing the national average. The region’s GDP has grown by an average of 2.4 percent annually since 2009 compared to a national rate of 1.8 percent., ]]> 2020-12-09 03:06:17 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000808583 What did you learn about your topic that surprised you the most? abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000837566 I learned that there are different ways to calculate and measure the economic growth of a country and Economists and Investors used these to figure out if the Economy of the country is a bad shape or not.]]> 2020-12-09 03:23:40 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000837566 Provide a real-life example of how this topic is relevant or interesting for you abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000845656 This topic is relevant because nowadays the economy is in a very bad situation due to Covid-19 and we can use GDP to figure out how much the virus is affecting the economy. It's interesting to see if the economy will recover in the next few years or will it keep going down into a rescission.

]]> 2020-12-09 03:29:16 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000845656 If you could pass on your knowledge to a family member or friend, what do you think is the most important thing to pass on? abrarnaseer https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000853442 The important thing to pass on is that work hard and keep moving forward even in these tough times during pandemic.]]> 2020-12-09 03:34:43 UTC https://padlet.com/abrarnaseer/ydcyu64nxrotixkq/wish/1000853442