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Pani-rosa [81]
3 years ago
11

Why are economists concerned with GDP?

History
1 answer:
Ainat [17]3 years ago
6 0

Answer:

Gross domestic product tracks the health of a country's economy. It represents the value of all goods and services produced over a specific time period within a country's borders.

Explanation:

Economists can use GDP to determine whether an economy is growing or experiencing a recession.

GDP measures the total market value (gross) of all U.S. (domestic) goods and services produced (product) in a given year. When compared with prior periods, GDP tells us whether the economy is expanding by producing more goods and services, or contracting due to less output.

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Europeans couldn't control the Africans because the kingdoms that existed there were strong and rich from trade.

<h3>What is trade?</h3>
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  • Bartering was a primitive type of trade in which commodities and services were directly exchanged for other goods and services.
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<h3>What is economics?</h3>
  • The study of economics that examines how products and services are produced, distributed, and consumed.
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The central ideological conflict of the Cold War was over communism and capitalism.

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