Question

Describe the major components of GDP from the perspective of national spending?

Describe the major components of GDP from the perspective of national spending?

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Answer #1

Major components of the GDP from the perspective of national spending is consumption, government spending, investment and net exports,

  • consumptions : Consumptions in the market is the amount which the consumers spend for consuming goods in the market. It can be for various reasons.
  • Government spending is spending in the economy done by the government it can be for defence, infrastructure etc.
  • investmetn is done for increasing the future consumption and capital generation in the market.
  • Net export is total export of the nation subtracted by the imports .
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