Hey! Sign in to get help with your study questionsNew here? Join for free to post

economics gdp vs output

Announcements Posted on
Would YOU be put off a uni with a high crime rate? First 50 to have their say get a £5 Amazon voucher! 27-10-2016
    • Thread Starter

    when someone says 'measuring output' do they mean 'measuring GDP'?

    In short, no, they don't.

    This article outlines the differences very clearly, with a nice example too. (talking about turning a piece of raw wood into furniture)

    (Original post by N123456789)
    when someone says 'measuring output' do they mean 'measuring GDP'?
    That depends on the context. If someone simply says 'measuring output' with no context, it is quite difficult to know exactly what they are talking about. In the context of a demand and supply graph, you know that they are simply talking about the quantity of a good or service produced. In the case of an AD/AS graph, or any sort of macroeconomic concept, you know that they are talking about real GDP because real GDP = real output = real income = real expenditure, so it really depends on the context. If you don't know why real GDP = real output = real income = real expenditure, I would suggest watching the video below:

    Isn't GDP macroeconomic & output microeconomic?

    Posted from TSR Mobile
Write a reply…


Submit reply


Thanks for posting! You just need to create an account in order to submit the post
  1. this can't be left blank
    that username has been taken, please choose another Forgotten your password?
  2. this can't be left blank
    this email is already registered. Forgotten your password?
  3. this can't be left blank

    6 characters or longer with both numbers and letters is safer

  4. this can't be left empty
    your full birthday is required
  1. Oops, you need to agree to our Ts&Cs to register
  2. Slide to join now Processing…

Updated: October 23, 2016
TSR Support Team

We have a brilliant team of more than 60 Support Team members looking after discussions on The Student Room, helping to make it a fun, safe and useful place to hang out.

Would you rather be able to

The Student Room, Get Revising and Marked by Teachers are trading names of The Student Room Group Ltd.

Register Number: 04666380 (England and Wales), VAT No. 806 8067 22 Registered Office: International House, Queens Road, Brighton, BN1 3XE

Reputation gems: You get these gems as you gain rep from other members for making good contributions and giving helpful advice.