Preparing to teach basic economic concepts - national income, circular flow etc and found this really helpful in terms of a way to explain this clearly - many thanks
Wow, this was such a better explanation than my instructor. This answered every one of my lingering questions and even explained things I didn't know I didn't understand well. So very happy to have found this before my exam. Thank you!
I think we need a clarification @9:00. Some government spending should be excluded in GDP calculation such as social security payments and welfare payments. These spendings are called "Non-production transactions."
Thanks for this video. I have a question :I don't understand the example on the t-shirt buy in China . if i buy a product in a foreigner market how the money spent will return in US by export ? assuming that in the video we say an import is leakage in the cycle.
thank you for explanation! but I still can not understand why it is said that household earned in the resource market ultimately is spent in the product market？ I think they may save some money, and invest to the firms instead of buying goods in the product market.
I believe the best way to measure a nations economy is to factor it's GDP, it's export/imports and it's external debt. If I can come up with an equation representing this factors I am certain a better comprehension of an economy can be illustrated. But the GDP portion my need to be tweaked. In any case please tell me what you think.
In which category public corporate and sales taxes should be included? Since transfer payments (welfare) isn’t part of GDP but financed through taxation, shouldn’t taxation be recorded as Government income?
It is an amazing video for understanding the method of calculating GDP. It would be great if you could explain how a government calculate in reality? Where they collect the data? How to estimate the deviation of calculation?
tnx for the video.. sir do you know where to get those data for me to compute the gdp or estimate the future gdp of a certain country like the US or Eu? any online resources?
Could some one help me get this straight in my head. At the end of the video he states all money spent on imports will always come back as reciprocal money spent on exports. Is this really true. I thought if imports are bought the foreign country receives foreign exchange which would be changed into their domestic currency but not come back to as goods. I've always thought of imports as a "permanent" leak of domestic expenditure.
In summary in this video clip, income= expense. Is it correct? I am not sure. As I know, income - expense = profit or Loss. So the way to measure GDP by income appoarch and expenditure approach is not equal. That 's why 2 countries have the same number of GDP but one has national debt. Another has not. And one more thing, government get money from 1. Tax ( normal way) 2. Borrow ( called bonds) 3. Just print money (called QE)
Usually I don't make comments......but here I can't stop myself but to appreciate this one.
The only video that made me properly understand how GDP is measured with the Income approach!
One of the best Economics videos available on RUclips, very confident approaching my exams!
The best video about GDP measurement.
Agreed, I feel confident going into exam today lol
word
Preparing to teach basic economic concepts - national income, circular flow etc and found this really helpful in terms of a way to explain this clearly - many thanks
ربنا يخليك لينا يا اسطا، دانا منغيرك زماني سقط
you explain better than my teachers at school, thank youuuuuu
thank you for a simple to understand lesson.
you helped shorten the hours spent studying.
So thankful for these videos!!! I kept reading my book and just couldn't get it, so thank you!
This one video is pretty much everything you need to know, brilliantly explained.
These videos are genuinely excellent I'm sure people learn more thanks to videos like these than they do in lectures
Wow, this was such a better explanation than my instructor. This answered every one of my lingering questions and even explained things I didn't know I didn't understand well. So very happy to have found this before my exam. Thank you!
hy, Madam have you any idea how is lm model application?
if u hv then help me i m failed to understand how this model work?
Macroeconomics tomorrow and you just saved my life!! Thumbs upp professor :))
How was the exam?
@@shockwave2477 lol i dont think hes gon reply after 7 years
No, you can’t prepare for exam from one RUclips video.
This is probably the best explanation on GDP. Concise, simple & informative :)
A brilliant explanation! Thank you!
thanks man, was really helpful for my midterm
One of the best teacher on economics
Wow! This is literally the best video for measuring GDP and circular flow! Love the content!! Thank you!
best explanation of gdp calculation. comprehensive yet simple
Your explanation is good enough to teach at any age. Thank you.
Thank you for clearing my doubt and making this easy to understand.
Thank you very much. I have spent days trying to understand this but did not until today. Really appreciate you.
Great lecture series Jason.
I am from science background. But the way of explanation help me a lot to understand about GD.. thanks a lot Sir
I think we need a clarification @9:00. Some government spending should be excluded in GDP calculation such as social security payments and welfare payments. These spendings are called "Non-production transactions."
This taught me more than my prof does in 2 weeks of lecture. College is pointless and expensive.
finally understood GDP
WELL DONE AND THANKS
Very clear, precise and coherent. Thank you.
Thanks, this is completely what I was looking for
Totally helped to get through my econ assignments.
You're a life savior.....my economic Jesus Christ!
Love your work n teaching skills,
U made it very Simple and Easy.!
Most usefull and effective video to understand the GDP of a country.
Ah the classic income and expenditure approach. Makes me miss teaching!
Thanks for the great walkthrough!
Beautiful explanation.. I also want to know the product approach. Thanks a lot
Thanks for this video. I have a question :I don't understand the example on the t-shirt buy in China . if i buy a product in a foreigner market how the money spent will return in US by export ? assuming that in the video we say an import is leakage in the cycle.
Brilliant, very simplified and easy to understand
So simple. Thank you so much. What software did you use to give this explanation???
Awesome, clear and understandable
Hi Jason please make videos on econometrics.. yo u really did a great job... cheers
Wow...you made the understanding very easy and simple❤👏👏
Can this method be done at a city/district level
thank you for explanation! but I still can not understand why it is said that household earned in the resource market ultimately is spent in the product market？ I think they may save some money, and invest to the firms instead of buying goods in the product market.
Why are taxes collected by the government not accounted in the income approach method ?
profound and clear explanation of GDP. thank you!
i understood this more than my macroeconomic teacher greeting from me to you i appreciate your efforts
I believe the best way to measure a nations economy is to factor it's GDP, it's export/imports and it's external debt. If I can come up with an equation representing this factors I am certain a better comprehension of an economy can be illustrated. But the GDP portion my need to be tweaked. In any case please tell me what you think.
Awesome! thank you so much... every well explained!
awesome !! I got it finally (thumb up)
In which category public corporate and sales taxes should be included?
Since transfer payments (welfare) isn’t part of GDP but financed through taxation, shouldn’t taxation be recorded as Government income?
Countless thanks for magical explanation 👍🏼
Thank you sir I am very helpful for this vedio
Thanks 😊 it's very helpful.
It nice Presentation about GDP. thank you
It is an amazing video for understanding the method of calculating GDP. It would be great if you could explain how a government calculate in reality? Where they collect the data? How to estimate the deviation of calculation?
Hello, great vid. I would love, if you have time, a copy of your flow diagram, i cannot find anything like it.
tnx for the video..
sir do you know where to get those data for me to compute the gdp or estimate the future gdp of a certain country like the US or Eu? any online resources?
Is expenditure and income approach should the same output or must be veryical?
Thank you and God bless you and your family real good in Jesus mighty name for this good work. Amen.
Excellent video
Excellent video.. Thank you so much
Thank you! This helped me out a ton!
Thanks for a great lesson
very good explanation. did u study in St. Gallen?
awesome. keep it up sir!
thank u...that's the best video to understand Gdp mesurmt
Concepts clear. Thank you so much.
thank you for this! I really learned a lot!
Excellent upload
Thank you. Crystal clear
Thank you sir, it was extremely useful.
Thanks for that lecture!
Sir i am your new subscriber...👍
Could some one help me get this straight in my head. At the end of the video he states all money spent on imports will always come back as reciprocal money spent on exports.
Is this really true.
I thought if imports are bought the foreign country receives foreign exchange which would be changed into their domestic currency but not come back to as goods.
I've always thought of imports as a "permanent" leak of domestic expenditure.
thanks so much sir
Great job
great video...helped me alot
May I ask about the third approach which is Output Approach?
thank you so much , great explanation!!
very well explained
Thank you. It was refreshing.
Very helpful! Thank you so much.
You are my IB survival
Very helpful ,thank you .
why we add depreciation in GDP when we calculate by income approach?
In summary in this video clip, income= expense. Is it correct? I am not sure. As I know, income - expense = profit or Loss. So the way to measure GDP by income appoarch and expenditure approach is not equal. That 's why 2 countries have the same number of GDP but one has national debt. Another has not.
And one more thing, government get money from
1. Tax ( normal way)
2. Borrow ( called bonds)
3. Just print money (called QE)
Awesome video. Really helped me. Thank you :)
Thank you, well presented.
Thank you, it was really useful.
its very good learn
thanks so much for this video
Great video... thanks!
knowledge always meant to be shared. Thanks :)
thank you so much for this :D it was really helpful
How are direct taxes treated in GDP by income method
very helpful, thank you!
Thanks Alot....
nice video
thanks
Only money in the flow chart is calculated in the gdp ?
Thank you