Gross Domestic Product

One of the major measures of the health and growth of a nations economy. (economic indicator)

The output of final goods and services (expressed in currency) produced by labor and property in a country.

What residents in a country produce for end consumption, not as an input into another final good.

GDP = Consumption + Investment +

Government Spending + Net Exports

Purchases of goods and services by households

Purchases of fixed assets by businesses, new homes by households, and inventories

Final purchased by federal, state, and local governments

The final amount a country exports minus the amount it imports.

What are the problems in measuring the GDP? How does the GDP affect the individual? How does your personal spending affect GDP? How do world events affect the GDP? How can advances in technology affect the

GDP? What impact do imports have on the GDP? Why is GDP important in helping marketers

identify emerging global markets? How do small businesses help contribute to

the United States' GDP?