Check sibling questions

Here, we will study 2 things:

  1. GDP
  2. Growth in GDP

GDP

It means gross value of Goods and Service produced in country

GDP Growth

Increase in GDP Compared to previous year in %

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Question 1

Which Country has highest GDP - India, Pakistan or China

Ans China has the highest GDP followed by India and Pakistan

GDP in Trillions Remarks

China 22.5 (It is Second Highest GDP in world after USA)

India 9.03 (India's GDP is less, it is Around 41% of China GDP)

Pakistan 0.94 (Pakistan's GDP is very less, it is Around 11% of India GDP)

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Question 2

Compare the Growth of GDP of 3 nations

  1980-90 2015-17
India 5.70% 7.30%
China 10.30% 6.80%
Pakistan 6.30% 5.30%

During 1980-90

China' GDP was growing at tremendous rate (Around 10%)

Pakistan's GDP Growth Rate was better than India's (6.3% of Pakistan compared to 5.7% of India)

 

During 2015-17

India is GDP grew at fastest Rate of 7.3%

China's growth rate declined to 6.8%

Pakistan was at third position at 5.3%

 

 

 

Summary

During Initial years of Reforms in China

GDP Growth Rate was fast

Now GDP Growth rate has declined

 

India's GDP Growth Rate was slowest in 1980-90 at 5.7%

It improved after reforms of 1991 and is currently growing fastest among 3 nations

 

Pakistan's GDP growth rate was earlier better than India in 1980's

Now it has suffered decline due to policial instability in Pakistan

 

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NCERT Questions

Question 16

Comment on the growth rate trends witnessed in China and India in the last two decades.

View Answer

Other Books

Question 1

What is GDP?

What is GDP Growth Rate?

View Answer

 

Question 2

Compare the GDP growth rates of China, India and Pakistan in years 1980-90 and 2015-17.

View Answer

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Transcript

What is GDP and GDP Growth Rate? Example Suppose in a country, Gross Value of Goods and Services produced in Country = In Year 2021 In Year 2021 1000 Crores 1040 Crores What is Increase in GDP? GDP = 2021 1000 2022 1030 Increase in GDP 30 What is GDP? Value of Goods and Service Produced GDP Growth Rate 30/1000*100 = 3% What is GDP Growth Rate? increase in GDP Compared to previous year in % GDP Comparison - China, India and Pakistan GDP in Trillion Dollars China 22.5 India 9.3 Pakistan 0.94 Second highest GDP in World (India's GDP is less, it is around 41% of China GDP) (Pakistan's GDP is very less, it is around 11% of India GDP) GDP Growth Rate - China, India and Pakistan 1980-90 2015-17 China 10.3% 6.8% China's GDP growth aver high in 1980’s. Now declined India 5.7% 7.3% India's GDP growth was lowest in 1980’s. Now it is the best Pakistan 6.3% 5.3% Pakistan's GDP was better than India, Now declined due to Political instability

CA Maninder Singh's photo - Co-founder, Teachoo

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CA Maninder Singh

CA Maninder Singh is a Chartered Accountant for the past 12 years and a teacher from the past 16 years. He teaches Science, Economics, Accounting and English at Teachoo