What are the components of GDP?

GDP, or Gross Domestic Product, is a measure of a country's economic output. It is calculated by adding up all of the goods and services produced within a country's boundaries. The components of GDP include consumption expenditures, investment expenditures, government spending, and net exports. Consumption expenditures represent the goods and services purchased by consumers. Investment expenditures include business spending on equipment, structures, and software. Government spending includes goods and services purchased by the government. Finally, net exports represent the difference between a country's exports and imports. Each of these components contributes to a country's overall GDP and can provide insight into its economic health.

This mind map was published on 22 May 2023 and has been viewed 79 times.