Gross Domestic Product (GDP) is the total monetary or market value of all
the finished goods and services produced within a country's borders in a
specific time period. As a broad measure of overall domestic production,
it functions as a comprehensive scorecard of the country’s economic health.
(Source: Investopedia)
Reference: JIM CHAPPELOW, "Gross Domestic Product—GDP". www.investopedia.com. Retrieved 2019-06-27.
Consists of GDP
GDP consists of Government Spending, Net Exports, Personal Consumption,
and Business Investment. Education, Healthcare, Defense spendings
are the three main areas where the government spends money on. So here,
we will analyze these three spendings by comparing GDP, per capita data,
and growth rate.
The GDP spread (2019)
To do the analysis, we select the top 10 GDP countries in the year 2019.
They are United States, China, Germany, Japan, India, United Kingdom,
France, Italy, Brazil, Canada. All these countries are in the G20.