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Have you always heard of the acronym “GDP” and you don’t know what it means?
Let me share with you.
A THREAD
Let me share with you.
A THREAD
“GDP(Gross Domestic Product) has to do with the total amount of money generated in a country, usually within a year.
The equation for calculating GDP is: private consumption + gross investment + government investment + government spending + (exports- imports).”
The equation for calculating GDP is: private consumption + gross investment + government investment + government spending + (exports- imports).”
“In advanced countries, if you divide their GDP by the total number of people, you will find that each person has a lot of money- that is called GDP per capita.”
“Emerging economies and developing countries tend to have relatively low GDPs.
In Nigeria, if you divide the GDP by the total population to get the GDP per capita, you will see that it is just under two thousand dollars ($2000)”
In Nigeria, if you divide the GDP by the total population to get the GDP per capita, you will see that it is just under two thousand dollars ($2000)”
- Excerpts from: @NaijaFlyingDr , Economics, Banking and Finance in Emerging markets.
