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How does GDP fit into my life objectives of getting a new car, becoming a teacher,...

How does GDP fit into my life objectives of getting a new car, becoming a teacher, buying a nice home, getting married, and having a family?

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Answer #1

GROSS DOMESTIC PRODUCT ( GDP) = It is the total value of goods and services which is produced with in a domestic land of a country during the financial year is known as GDP .

PER CAPITA GDP = when the total value of GDP is divided with the total number of population then the GDP per capita that is GDP of an INDIVIDUALS comes up.

The value of an individual's GDP always refer to check or judge the Standard Of Living of an individual ,which means suppose if my GDP per capita is good then i can fulfill all my life objectives of getting new car, becoming a teacher, buying a nice home ,getting married and having family etc that's how GDP fits into once life objectives ..

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