Difference between Nominal GDP and Real GDP explained? Nominal GDP vs Real GDP | LEC-14
Channel: Niconomics
Date: 05/05/2020

In this video we are going to study about the Difference between REAL GDP and NOMINAL GDP

#UPSC#SSC#BankingExaM#IAS#CS#CAFOUNDATION#CWA
also suggested for #class12th!#IASPREPERATION#CIVIL

GDP - (Lecture 13)
https://youtu.be/jXFPh3tdmNg

All Lectures related to National Income:
https://www.youtube.com/watch?v=2IwR1...

THE VIEW OF MANY OF US IS THAT ECONOMICS IS A THEORETICAL SUBJECT THAT MAY HAVE NOTHING TO DO WITH THE PRACTICAL WORLD. PROBABLY MATH, ACCOUNTANCY, PHYSICS, CHEMISTRY ARE PRACTICAL SUBJECTS FOR THEM AS THESE HAVE PROBLEM SOLVING QUESTIONS, LABORATORY EXPERIMENTS, INVENTION THAT THEY CAN SOLVE BY THEMSELVES. BUT FRIENDS LET ME CLEAR YOU ONE THING THAT ECONOMICS IS ALSO A PART OF SCIENCE i.e., SOCIAL SCIENCE THAT STUDIES NOTHING BUT THE BEHAVIOR OF HUMAN.
EVERY ECONOMIC DECISION THAT AN INDIVIDUAL UNDERTAKES TO EARN, TO SPEND DIRECTLY FALL INTO THE DOMAIN OF THIS SUBJECT. 
NOT ONLY THIS THE FUNCTIONING OF MONETARY AUTHORITIES LIKE INTERNATIONAL MONETARY FUND(IMF), WORLD BANK(WB), CENTRAL BANK OF ANY NATION, MINISTRY OF FINANCE ETC ARE COVERED IN THIS SUBJECT.

THE VISION OF THIS CHANNEL IS NOT JUST TO TEACH YOU THE THEORETICAL CONCEPTS OF ECONOMICS RATHER IT WILL HELP YOU TO UNDERSTAND THE APPLICABILITY OF EACH AND EVERY CONCEPT IN YOUR DAY TO DAY LIFE. THOSE WHO BELIEVE THAT ECONOMICS MODELS, LAWS, THEORIES EXISTS ONLY IN BOOKS WILL DEFINITELY LEARN TO APPLY THEM PERSONALLY IN THEIR ORDINARY BUSINESS OF LIFE.

THE AIM OF CREATING THIS CHANNEL IS NOT JUST TO HELP PROSPECTIVE STUDENTS TO CLEAR THEIR EXAM, WHILE SIMULTANEOUSLY CHANGING THEIR VIEWS TOWARDS COUNTRY AND WORLD BY IMPARTING THE IDEOLOGIES OF GREAT ECONOMISTS, THEIR GROWTH AND DEVELOPMENT MODELS WHICH HAS NOURISHED THE COUNTRIES AND INDIVIDUALS BY NAVIGATING THEM 'SPARINGLY USE OF  SCARCE RESOURCES , THE IDEA OF GOOD AND BAD INVESTMENT, INTERACTION OF BUYERS AND SELLERS IN MARKET TO DETERMINE PRICES, SUGGESTIONS REGARDING POVERTY ALLEVIATION, ELIMINATING INCOME INEQUALITIES, INDICATORS OF A DEVELOPED AND UNDERDEVELOPED NATION, GOVERNMENT ALLOCATION OF FUNDS ETC.

SO ANY INDIVIDUAL WHO REALLY WANTS TO KNOW AND UNDERSTAND THE ECONOMIC ACTIVITIES HAPPENING IN THE COUNTRY AND THE REST OF THE WORLD MUST STAY IN TOUCH WITH THIS CHANNEL .

"NICONOMICS" ASSURES YOU TO KEEP YOU UPDATE ABOUT ALL THE ECONOMIC POLICIES, STRATEGIES OF INDIA AS WELL AS REST OF THE WORLD.
NOT ONLY THIS ALL THE ECONOMIC HISTORY AND INCH OF ECONOMIC DETAILS WILL BE COVERED IN THIS CHANNEL.
IRRESPECTIVE OF THAT EMAIL ID IS PROVIDED BELOW ASK ANY DOUBTS REGARDING ECONOMICS YOU WILL DEFINITELY BE ENTERTAINED.

STAY IN TOUCH WITH THIS CHANNEL AND FEEL THE "AURA" OF 
"ECONOMICS" AROUND YOU .


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