What is GDP? and how can you explain it at the next BBQ and look like a genius

After a long day battling away at work, fighting the good fight you get home and find your place of solitude on the sofa, flopping down and switching on the TV. Those noble news readers, with pearly white teeth and perfect hair give you updates on everything that’s been going on out in the mad, mad world. In amongst the whirlwind tales of stock market rises, falls, political arguments, exchange rate rises and falls they repeat words and acronyms you’ve heard hundreds of times before…but never really understood. A favourite of the economic reporters is GDP.

Gross Domestic Product:
GDP stands for Gross Domestic Product, and it’s a way to measure the size or value of a country's economy.

I want you to imagine that a country is like a big shop where goods and services are bought and sold. GDP is like adding up the value of all the things that are bought and sold in that store over a specific period, usually with the year.

Get the headphones and get walking its time to learn again.......smash the like button please.

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