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Jessica Starring
on Nov 16, 2024

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​Since transfer payments by government are not associated with the production of goods and services, they are not included in GDP.

Transfer Payments

Payments made by the government to individuals, without any expectation of a direct return or exchange of goods or services.

GDP

Gross Domestic Product; a measure of the economic performance of a country, representing the total value of all goods and services produced over a specific time period.

  • Perceive the essence of Gross Domestic Product (GDP) and its component parts.
  • Identify what expenditures are included and excluded in GDP calculations.
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Mirna SaiehNov 17, 2024
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