Via PriSim: GDP – How to Define an Entire Country With Just One Number

gdp

Your business operates within a larger market that is described and measured using the economic indicator “GDP”, or Gross Domestic Product. The number represents the value of all products and services produced within a country’s borders. During PriSim’s simulation exercises this number is used to influence a more or less favorable business environment for the competition.

But why is that particular number used, and how did it originate?

Measuring a country’s economic output was not a new concept, but the pain of The Great Depression in the 1930s motivated U.S. economists to quantify the scope of the problem that the country was feeling. And GDP was born.

Listen on NPR (National Public Radio) to the intriguing history of how GDP originated.

PriSim Business War Games Inc. runs and designs customized business simulations that teach decision-makers about business, strategy, finance, and leadership.

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