3 Tutorials that teach Economic Growth (GDP)
Take your pick:
Economic Growth (GDP)

Economic Growth (GDP)

Author: Dan Laub
This lesson covers economic growth.
See More
Try a College Course Free

Sophia’s self-paced online courses are a great way to save time and money as you earn credits eligible for transfer to over 2,000 colleges and universities.*

Begin Free Trial
No credit card required

27 Sophia partners guarantee credit transfer.

245 Institutions have accepted or given pre-approval for credit transfer.

* The American Council on Education's College Credit Recommendation Service (ACE Credit®) has evaluated and recommended college credit for 21 of Sophia’s online courses. More than 2,000 colleges and universities consider ACE CREDIT recommendations in determining the applicability to their course and degree programs.


Notes on "Economic Growth (GDP)"

Key Terms

GDP Gross Domestic Product 

The sum of all final goods and services sold within a nation’s domestic borders; a measurement of economic activity  

Resource Cost

Income Approach: Sum of the amount of resources used to produce goods and services, or sum of the income received from purchases of these resources.  

Expenditure Approach

Sum of all final goods and services purchased in an economy; typically referenced as Y = C + I + G + (X – M); Y (GDP), C (consumer purchases), I (investment outlays), G (net government spending), X (exports), M (imports).  

GDP Growth

The measure of change in GDP over time.