What is GDP? | CNBC Explains

It’s the king of economic statistics. Gross domestic product is an important tool to measure the health and strength of a country’s economy, but it doesn’t always give a full picture. So how does GDP work? CNBC’s Elizabeth Schulze explains.
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[@chandima94]

One of the best videos I've watched on KZbin that explains a complex topic in a very simple but informative manner. Great job CNBC!

[@pandapanda7032]

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[@DarkSkay]

Basics very well explained! Two elements I would like to mention: GDP does not take the quality of goods and services into account. Neither steady qualitative growth. Somebody buying a computer or booking a flight for $2000 in the 80s contributed much more to GDP than doing the same today for say $500, despite the flight being safer today, the computer much faster and capable today. GDP is a raw number associated with times of scarcity and the 'quantitative growth mantra'. Abundance in rich societies changes its relevance - GDP can be totally misleading when discussing what people really want. This should not come as a surprise, since in most important aspects of life the middle class lives better today, than even a king 500 years ago.

[@derick3482]

i wish you tube came in 1998 when i wan in high school

[@NickiKhonsari]

You're welcome, I'm glad that you enjoyed it.

[@noel7777noel]

GDP is "G," "D," "P," (G ÷ P) × D = weath or GDP=weath. GDP is a math formula. The "G" is the labor excomponent in the math formula GDP. (G ÷ P) × D That G is gross labor. Total hours worked. That D is us. The total population. That P is capital. The total labor of the total population is building the total capital. GDP A currency exchange between the "P" or capital is another topic of the math formula of inflation.

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contemporary + Informative + Quality content = CNBC explains

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[@xiangtingsu]

For a moment at 3:10, I thought this was a Spotify sponsored video.

[@munasuleman4996]

@Somanshu Kumar felt*

[@cj.174]

@@munasuleman4996 muna youre not even english.why so serious?

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[@anthony_gaytano]

Product placement probably

[@yandhi4202]

Lmao same

[@1AmSwapnil]

Feels good to revise my basics of Economics again, feels refreshing!

[@stevenzin5834]

In Bhutan, they measure national happiness as the most important figure for the kingdom. Just amazing.

[@klytouch5285]

Sight...!!!!!!!

[@cheese5728]

And they live till 70, that’s awful

[@FunGuy5]

Without happiness and peace, GDP is just meaningless

[@monkeystudios1]

BuT THE ECONYMY!!! 9

[@rhdelndz]

@@monkeystudios1 What's money if it doesn't make you happy?

[@dhiraj6727]

Thanks for making it so easy to understand what is GDP. In just a 4 minute video, you explained what is GDP in such a nice way. Please keep making such educational videos related to economy, i want to learn more about it.

[@joebarrientos4708]

Awesome video...

[@kentmillamena1518]

this video is so helpful. Helped me a lot for my economics presentation

[@jaisuriahansrajani9186]

It is a great video, explained in such a way that anybody can easily get this concept and will remember for long time!

[@chiragagarwal8734]

Bhutan has GDH - Gross Domestic Happiness!!

[@admindadipancar5494]

and rapidly declining

[@robinle2971]

@@admindadipancar5494 Happiness can't feed your stomach!

[@admindadipancar5494]

@@robinle2971 U need money to Sustain your life style but U don't need money to sustain your life

[@cl759]

@@admindadipancar5494 want to bet

[@krishnamohanmishra]

Lidija Cullen lets bet i will give you 10 happiness if i lose.😅

[@deu8894]

Do a video on difference between GDP (PPP) and GDP (nominal)

[@ausgaporetan8512]

De U GDP nominal is the gross domestic product produced by the citizens only of a nation, regardless of whether the citizens of that nation is located abroad or not. While PPP is price purchasing power, indicating the ability to purchase a good or service in your nation traded with your nation’s currency. hope it helps !! :)

[@umar7182]

@@ausgaporetan8512 very wrong... PPP is parity of value of product consumed within a year with respect to inflation of that country. For example the cost of hair cut in USA would be 9 $ while in India it would be 1.5$. So when calculating Nominal GDP 9$ will be added to USA economy and 1.5$ will be added into Indian economy. Nominal largely depend od exchange rate of dollar. While in PPP the value of product is calculated in local currency.

[@umar7182]

@@ausgaporetan8512 In short Nominal largely depend upon stock exchange, value of dollar to local currency ration. If country has weaker currency the nominal will be low

[@purnimaghosh5927]

Check out the video on your required query under studyiq channel

[@moneymaker2024]

Umar The most important measurement is GDP PPP Per capita

[@saradarv1161]

Love this video, so informative and the graphics really helped. Thank you!!!

[@KatsuBae]

Thanks for posting. The SDG focuses its first 5 approaches on people, but the reality shows otherwise, like the GDP measurement. It is an eye-opener to watch videos like this from CNBC!

[@thespurslad]

Finally I understood Simple language

[@papabogardtv9133]

i really love the explanations, thank you cnbc

[@rafaelgarza6562]

Great insight, Elizabeth!

[@namthippvannalathh2273]

Super informative and helpful! Big support

[@srinivasanvr5236]

Thank you for your brief explanation on GDP Elizabeth Schuzule . Absolutely you have explained both pros and cons with 4 mins

[@thelovelyvalc]

This was very helpful!

[@adrianramirezl.4388]

Beautiful explanation. Enjoyed watching. Thanks

[@AliKhan-fs3rm]

‘CNBC explains’.. I like it. Elizabeth I like even better

[@fernandavasconce]

I really needed this video. Thanks

[@princeafriqa6917]

thank you ,you people are the best

[@spudytv14]

they you have helped, much love from Africa Zimbabwe

[@rajaoctober14]

Short and sweet and you hit the right points

[@tuluksvui747]

great explanation

[@naanu.kannadiga]

Everything was economics until that wink 😂😂 3:50

[@yviruss1]

Haha!

[@zunds8593]

@@yviruss1 Lol

[@MYC_ODD_APP]

Signal

[@phew..]

Bad3 harami hi beta

[@TermsofService911]

69 likes

[@preetdodeja1296]

The best ever explanation about GDP till now (for me)🤘cheers

[@mohammadarifsiddiqui671]

TRULY MADAM ELIZABETH DEFINED IT EXCELLENTLY VERY SIMPLY WITH EXAMPLES VERY EASSY TO GET IT (COMPLEMENTS)

[@dmitryzababurin8438]

Great explanation. Well done!

[@averypenner]

Great video!

[@crystinamarie1]

Great video! Thanks!

[@welshpete12]

A very clear and easy to understand explanation, thank you for posting.

[@CNBCi]

Glad it was helpful!

[@cynthialocoge393]

Thank you for this explanation !!!

[@vighneshs5563]

Fantastic video ! Thanks

[@TheWittyWatchdog]

Great video 👌

[@jasonmalkhasian565]

Great explanation

[@nilanjanbanerjee5958]

thanks for the effort on CNBC's part for this video for the common man to understand GDP.

[@StudiousMD]

Thank You for this succinct explanation. Fundamental Economics delivered in 4 minutes.

[@TheBiettimdau]

Thank you for the explaination

[@andrewleventis8341]

Great short videos to the point

[@ailove313]

Great video.

[@brainstormingsharing1309]

Absolutely well done and definitely keep it up!!! 👍👍👍👍👍👍

[@USAFORBETTER]

This is a very interesting video I enjoyed learning about it thoroughly

[@sureshkm]

Quality info! Thanks CNBC

[@bagybach]

Great report and reporter.

[@abid...]

Amazing content.

[@florenceledgister7327]

Very well done, thank you🤗

[@dineshthakur1934]

Excellent information 👍👍👍

[@navdeepsharma4990]

Explained clearly and to the point. Thankyou..

[@pecelirovucago7149]

Hello, thank you so much for the simple ways you explained about GDP.

[@angeljoypolancos4451]

Thank you for sharing your thoughts and ideas about GDP. I understand a lot

[@danielealessi3419]

Amazing explanation !!! thank´s :)

[@devenshah3242]

A really informative video. 1)Please make a video explaining Inflation and how it can be controlled. 2) Also make a video on how a currency falls or rises and what factors account for this rise and fall. Case in point- Indian Rupee.

[@kiranprasad8535]

Really helpful

[@nijoyjohn4366]

Loved this Video it was information t its best and well made

[@Nedwin]

Nice one Elizabeth!

[@richardgordon]

Good video!

[@sagardeshmukh5406]

Wow..thanks for the explanation in simple words..

[@Limella._]

I've never understood GDP before, this just made it super clear. thank you so much

[@andreassucipto]

nice, so simple yet beautiful presenter. thanks...

[@dr.mobarakali255]

Thanks, good information

[@ishaqbaig477]

Bravo elizabeth… Superbly explained

[@falsafayg]

Great sum up.

[@yviruss1]

Nice vid. Thanks.

[@nilocblue]

Well done!

[@beatricesamuels6789]

THANK YOU VERY KINDLY

[@krishnachauhan3864]

Now I understood. Thank you CNBC

[@HeavyLikesSandwich]

The chalk on board sound was a nice touch

[@annmariesankoh3482]

Thank you so much.

[@ijustlikethat]

How about sharing info on comparative GDP between countries? Something like countries with least % of consumption on its GDP or countries with least % of govt spending on its GDP. It helps if these could be explained it's relevance.

[@oscarluna1]

Awesome practical learning

[@abdoudjam6846]

Spotted the spotify ad?, Nicely explained thanks !

[@sknbbx]

Thanks Elizabeth

[@trianglepowers]

Nicely explained..

[@ifeanyindukuba]

Thanks NOW I Fully Understand What I Was looking for.

[@charlottegomez5279]

NON OF YOUR BILLS SLEPT. THEY KEPT ON BILLINGS AS YOU WERE SLEEPING. IN OTHER WORDS, YOU WOKE UP OWING MORE THAN YOU DID BEFORE SLEEPING. THAT'S WHY YOU NEED 'PASSIVE INCOME'. SO WHEN YOU SLEEP, YOU CAN ALSO MAKE MONEY, NOT JUST DEBTS.

[@nareshkoyalkar8370]

Thank you CNBC

[@Common_sense_hai_bhai]

Really useful insights on GDP

[@alliedgroup8186]

Excellent

[@MrCruz433]

Nice video about the GDP👍

[@rishirajpushkar1663]

From india, mam the way you explained was just like a butter on bread.

[@krishnaduttapachauri1340]

That's a wonderful video

[@ahmedsamale8356]

Thanks a lot

[@avimehenwal]

very nice video

[@user-pt6pj9ed3x]

Thanks Lizy

[@maryamazhar2352]

Very nice 👍 you explain it🌹

[@fayd031tv3]

Salute to the way she explained it

[@mrlad4685]

I think U.S. also counts invaded Countries. 😂

[@unparalleledworld5162]

Lol

[@darksoar3633]

K

[@jon-unicorn-doxxer]

Always find a guy who will always diss the US...but at the same time watch Hollywood movies... hypocrite...

[@jon-unicorn-doxxer]

@Shahzad Ali- still hypocrisy, he hates them but he watches their content... clearly he watches Hollywood film and hates USA...because I Doxx when someone pisses me off on the internet...so careful...

[@jon-unicorn-doxxer]

@Shahzad Ali - Oh, Your a Pakistani, did the USA loot oil in your country?

[@aliyahya7702]

Good video

[@funboystar]

I finally understand gdp !!! Excelent video

[@Wadura98]

do you have a video for GNP? this video was great

[@ruudhop]

Important to know that Government Spendings are counted in the GDP, BUT Government staff NOT. A country is very healthy with less government staff.

[@lorenzoluizdesouza1215]

If you're talking about the black market then yes GDP is flawed from that and also from household sales such as handicrafts sold without a registered business and sold among friends and family.

[@weozol4065]

In the US, Government salaries are counted in the GDP

[@billtuckjr2834]

Elizabeth I Love what You said about the first sip of morning Joe! Some things are Priceless and Thats one of them!

[@tatevtatevik2426]

Elizabeth you are very good

[@rramanamahesh]

Nobel prize for economics in 2019 can you explain their contribution towards poverty elevation. You can start a new segment on nobel prize topics.

[@michaelbusuamlak4896]

Very educational. It helps the general public to improve our Financial literacy.

[@jalpansheth1649]

Please keep uploading such videos. Your content is very good.

[@p.t.mathew7870]

That was a good presentation. Thank you.

[@piyathungapolpitiya3767]

Thanks