Parsing Gross Domestic Product
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95 videosMicroeconomics- 2:50
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@PeteJohnMcGarvey If someone consumes that piece of cotton then the theory will consider the "piece of cotton" as a final good, i.e. final good = consumption. Economics just count the end of the chain because otherwise we would be counting somethings twice.
ULMORAIS 1 month ago in playlist Microeconomics
Hey Sal, isn't this Macroeconomics? It means that you intend to do a list on this?
ULMORAIS 1 month ago in playlist Microeconomics
Sorry, this might be an extremely stupid question, but why do we only include the market value of final goods, because what actually determines what a final good or service is? Since surely I could go and consume some jeans (which would count towards GDP)but I may just be using it as material input of production for a new good im creating to be put onto the market.What about if someone wants to just consume that piece of cotton on its own, instead of the intent of creating jeans out of it.Thanks
PeteJohnMcGarvey 1 month ago
what software are you using to make your videos
moey898 1 month ago
Simplest economy is 2 persons system.
TheTraveller1415 1 month ago