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Global Economic growth

Gross domestic product (GDP) is the total value of goods and services produced within a country's borders in a given period. GDP growth is driven by natural resources, infrastructure, population, human capital, technology, and law. While GDP growth enlarges the labor force and market, it can also deplete resources and worsen inequality and environmental decay. Inflation is a rise in the general level of prices and a fall in the purchasing power of money. High inflation can result from demand for goods exceeding supply or a currency losing value.

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PROFIECIENCY IN BUSSINESS TOOLS TOPIC- GLOBAL ECONOMIC GROWTH Akash Sharma akashshrm5@gmail.com
GROSS DOMESTIC PRODUCT- Total value of goods and services produced within a country’s borders in a specific time period —monthly, quarterly or annually. GDP enables policymakers and central banks to judge whether the economy is contracting or expanding, whether it needs a boost or restraint, and if a threat such as a recession or inflation looms on the horizon.
FACTORS THAT LEAD TO GDP GROWTH- 1. Natural resources 2. Physical capital or infrastructure 3. Population or labor 4. Human capital 5. Technology 6. Law
Positive side- • Enlarged labor force • Large domestic market • Encourages competition Negative side- • Depletion of resources • Environmental decay • Poverty, inequality
What is 'Inflation’? Inflation is the rate at which the general level of prices for goods and services is rising and, consequently, the purchasing power of currency is falling. Factors leading to high rate of Inflation- • Increase in demand of goods relative to supply. • Decrease in value of each existing nominal unit of currency.
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