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Factors Affecting GDP Research Paper

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Running head: Factors affecting GDP 1
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Institution

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Running head: Factors affecting GDP 2
Factors affecting GDP
Gross Domestic Product is the sum of the total expenses on final services and goods that
are produced in an economy. Consumer expenditure on services and goods is inclusive except
for the purchase of new houses which is included in the gross fixed capital formulation. All
general final consumption of the government is inclusive including the expenditure by the local
and the national government. Gross Domestic Product can be used as a measure of national
income though it is not the best measure of national income. Economic levels of a country have a
direct relation with GDP. There are many factors affecting GDP including disease, environment,
resource levels, and poverty levels in an economy.
The impact of a disease on the economy can have major economic consequences. Effects
can be seen on a microeconomic level of household, business entities, and the government at
large. Macroeconomic levels of the economy can be affected including the aggregate impact of
the pestilence to a particular country gross domestic product. Diseases affect all aspects of the
economy on a micro and macroeconomic level. Health status in the general population is greatly
affected as the citizens who suffer from diseases continue to rise exponentially. My goal in this
paper is to clearly show the effects of diseases on the economy. The paper will also show other
models that affect the gross domestic product of a country.
Disease pandemics can sweep many individuals in a country and a loss in the individual
utility can, directly and indirectly, affect the working population. Utility that is related to the
consumption of goods and services will automatically reduce. Consumption of goods related to
health does not yield utility. The majority of the population does not prioritize incurring
expenses in terms of time and money which are the major determinants of economic welfare.
Economic welfare can be attributed majorly to the consumption of services and products that are

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Running head: Factors affecting GDP 1 Topic Name Institution Running head: Factors affecting GDP 2 Factors affecting GDP Gross Domestic Product is the sum of the total expenses on final services and goods that are produced in an economy. Consumer expenditure on services and goods is inclusive except for the purchase of new houses which is included in the gross fixed capital formulation. All general final consumption of the government is inclusive including the expenditure by the local and the national government. Gross Domestic Product can be used as a measure of national income though it is not the best measure of national income. Economic levels of a country have a direct relation with GDP. There are many factors affecting GDP including disease, environment, resource levels, and poverty levels in an economy. The impact of a disease on the economy can have major economic consequences. Effects can be seen on a microeconomic level of household, business entities, and the government at large. Macroeconomic levels of the economy can be affected including the aggregate impact of the pestilence to a particular country gross domestic product. Diseases affect all aspects of the economy on a micro and macroeconomic level. Health status in the general population is greatly affected as the citizens who suffer from diseases continue to rise exponentially. My goal in this paper is to clearly show the effects of diseases on the economy. The paper will also show other models that aff ...
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