What is GDP?
 

[B][I][COLOR="SlateGray"]Salam........

Hope you people are doing well.......


Dear friends I have two questions regarding economics. Hopefully you well help me out.

1-What is GDP...........??? How As we mention in our essays gdp of education, poverty etc.........

2-How to get updated statistics for essays. GDP of Education, Poverty, Overpopulation....


In last I am going to make suggestion/remedies for Poverty's essay. In which what should I mention that how much gdp should be given to the poverty, education, child labour, unemployment.

Hope you will help me out. So that I can complete my essays.


Thanks.........

Sara[/COLOR][/I][/B]

GDP (Gross Domestic Product) is the sum total of all goods and services produced in a country usually in one year. It is mentioned in monetary terms, usually in US dollars.

There is no such thing as GDP of education or poverty. What I have understood by your question is that, usually people describe the expenditure done on education or poverty in terms of GDP. So you can say that normally writers describe the importance of education or poverty to the government by describing how much government spends on education or poverty. The expenditure incurred is described in terms of the proportion of GDP.

The updated statistics on expenditure incurred on education or poverty can be had from Economic Survey of Pakistan, which is available on website of ministry of finance ([url]www.mof.gov.pk[/url]).

[I][COLOR="SlateGray"][B]Thank you very much newstudent .....

The given link is not working.........[/B][/COLOR][/I]

Sorry for wrong website address. Correct one is [url]www.finance.gov.pk[/url].

Take care of poverty it shall automatically take care of GDP, was thought of late Dr. Haq, but Only focusing poverty elimination is no solution, more is required to be spent on human capital formation(especially at merit goods), technological progress especially. Just to eliminate poverty wont solve the problems. We have to grow, and try to adopy mechanism that trickle down effect dont fails, the structure of society should be re-organized accordingly.

Gross Domestic Product
 

Gross domestic product, a measure of economics activity in a country.It is calculated by the total value of a country"s annual OUTPUT of goods and SERVICES.GDP = private CONSUMPTION + INVESTMENT+PUBLIC SPENDING + the change in inventories + ( EXPORTS- IMPORTS).It is usually valued at market PRICES: by subtracting indirect tax and adding any GOVERNMENT SUBSIDY,however, GDP can be calculated at FACTOR COST.This measure more accurately reveals the INCOME paid to FACTORS OF PRODUCTION.Adding income earned by domestic residents from their investments abroad, and subtracting income paid from country to investors abroad, gives the country's gross national product (GNP). The effect of INFLATION can be eliminated by measuring GDP GROWTH in constant real prices.However,some economists argue that hitting a nominal GDP target be the main goal of MACROECONOMICS POLICY.This because it would remind policymakers to take into account the effect of their decisions on inflation,as well as on growth. GDP can be calculated in three ways.The income method adds the income of residents (individuals and FIRMS) derived from the production of goods and services.The output method adds the value of output from the different sectors of the economics.The expenditure method totals spending on goods and services produced by residents, before allowing for DEPRECIATION and CAPITAL consumption.As one person's output is another person's income, which in turn becomes expenditure, these three measure ought to be identical.They rarely are because of statistical imperfections.Furthermore,the output and income measure exclude unreported economics activity that takes place in the BLACK ECONOMY but that may be captured by the expenditure measure. GDP is disliked as an objective of economic policy by some because it is not a perfect measure of WELFARE.It does not include aspects of the good life such as some leisure activities. Nor does it include economically valuable activities that are not paid for,such as parents teaching their children to read. But it does not include some things that lower the quality of life, such as activities that damage the environment. One alternative that has been proposed, albeit without much detail, is to try to measure gross national happiness.

[B][I][COLOR="SlateGray"]Thanks for your detailed answers. I have a problem in my essay. I have to mention the present crisis of poverty/child labou/ illetracay/education. Now I don't get the term of the GDP. And percentage ratios. Moreover, I have to present the reliable suggestions that what should be done for education and poverty. Means how much (gdp) or don't the exact term related economics and statistics. Therefore, in this regard I need your help.

Thanks......

[/COLOR][/I][/B]

[QUOTE=ssara;503348][B][I][COLOR="SlateGray"]Thanks for your detailed answers. I have a problem in my essay. I have to mention the present crisis of poverty/child labou/ illetracay/education. Now I don't get the term of the GDP. And percentage ratios. Moreover, I have to present the reliable suggestions that what should be done for education and poverty. Means how much (gdp) or don't the exact term related economics and statistics. Therefore, in this regard I need your help.

Thanks......

[/COLOR][/I][/B][/QUOTE]
Dear check this [url]http://www.indexmundi.com/pakistan/economy_profile.html[/url]

[QUOTE=ssara;503348][B][I][COLOR="SlateGray"]Thanks for your detailed answers. I have a problem in my essay. I have to mention the present crisis of poverty/child labou/ illetracay/education. Now I don't get the term of the GDP. And percentage ratios. Moreover, I have to present the reliable suggestions that what should be done for education and poverty. Means how much (gdp) or don't the exact term related economics and statistics. Therefore, in this regard I need your help.

Thanks......

[/COLOR][/I][/B][/QUOTE]

Well Sara if you talk about GDP, then there is no such thing like GDP of Poverty, Illiteracy or etc...

we relate all such problems to GDP in order to measure the the allocation of overall resources to all the Products and services produced in a country, in a specific time period (usually one year) on their current Market price (usually in US $).....

For Example when we say that Pakistan spends 2 % of their GDP on education and Sri Lanka spends 5 %, then it means that Sri Lanka is allocating more of their resources in this sector, that's the implication of GDP on all the factors you enlisted.....

Dear Sara i came across one more thread in which you were asking for some nuts and bolts of Essay, dear it is better to focus on the bigger picture that the examiner would see and you must precisely work on it...

and one Last thing, please do get the best out of your optional subjects and try to supplement the knowledge of one subject for the other...

What is GNP?
 

What is GNP?
GNP vs GDP?