Barbosa_ECO400_Mod_4_Critical_Thinking

Barbosa_ECO400_Mod_4_Critical_Thinking - Wesley Barbosa...

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Wesley Barbosa Module 4 Critical Thinking ECO400 CSU Global
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Gross Domestic Product (GDP) can be defined as the sum of several different components. The four components of GDP are personal consumption, private investment, exports and imports, and government expenditures. GDP is calculated by adding together the four figures; the amount of consumption of goods and services by private individuals and businesses; business investment in capital for production of goods and services; the amount of spending and consumption by government agencies at all levels; and the net amount of exports to other countries. Personal consumption is by far the largest component which is about two thirds of GDP and in my case is a little higher. My personal consumption includes food, gas, and rent. Personal consumption is the most important part of GDP in my opinion because it is the products and services that we consume. Private investment for me is very low. I personally make very few investments in my
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Barbosa_ECO400_Mod_4_Critical_Thinking - Wesley Barbosa...

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